Dhaka: The government is set to boost domestic gas production following the approval of a Tk 1,136.25 crore project to drill three new exploration wells in the regions of Srikail, Mobarakpur, and Fenchuganj. The initiative is an integral part of the country's strategy to meet increasing energy demands across industrial and household sectors.
According to Bangladesh Sangbad Sangstha, the project, proposed by the Energy and Mineral Resources Division and to be executed by Bangladesh Petroleum Exploration and Production Company Limited (BAPEX), aims to enhance the country's indigenous gas supply. It is scheduled for completion by December 2027, with funding primarily sourced from the government through a Tk 909 crore loan, while BAPEX will contribute Tk 227.25 crore from its resources.
The wells are situated across three districts within the Chattogram, Sylhet, and Rajshahi divisions and are part of BAPEX's broader nationwide exploration program targeting the drilling of 20 new wells. The Executive Committee of the National Economic Council (ECNEC) granted approval for the project during its recent meeting.
Planning Adviser Dr. Wahiduddin Mahmud commented on the project, emphasizing the ongoing challenge of drilling and completing new gas exploration wells. Despite the need for imports, he highlighted the importance of starting new drilling operations to strengthen BAPEX with the necessary equipment for exploration and subsequent stages as part of a long-term strategy.
The project outlines plans for drilling the Srikail Deep-1 and Mobarakpur Deep-1 wells to a depth of 6,000 meters each, while the Fenchuganj South-1 will reach 4,000 meters. Activities will include rig mobilization, the construction of rig foundations, drilling operations, testing, and completion services. Consultancy support will be engaged, particularly for the deep wells in Srikail and Mobarakpur.
A senior Planning Commission official noted that the well locations were chosen after comprehensive 3D seismic surveys and geological data analysis by BAPEX, revealing strong prospects for significant gas deposits. If commercial quantities of gas are discovered, the estimated Gas Initially in Place (GIIP) from these wells could reach 1,696.36 billion cubic feet (BCF), with approximately 1,018.14 BCF recoverable, significantly bolstering the country's energy security.
The Planning Commission's Project Evaluation Committee (PEC) endorsed the project, emphasizing timely implementation, coordination with Petrobangla, and the adoption of modern drilling technologies. Energy sector analysts view the development as timely, given the growing pressure on national gas supplies amid industrial expansion and rising power generation needs.
BAPEX, the state-owned exploration company, has been expanding its capabilities through seismic surveys and identifying multiple prospects for evaluation. With ECNEC's approval, this initiative is poised to catalyze broader exploration activities under the government's energy sector roadmap and potentially attract private and international investment.