A new gas reserve has been discovered in the Begumganj-4 (West) well, with an estimated extractable volume of 180 billion cubic feet (BCF) across three layers.
According to Petrobangla Chairman Janendra Nath Sarkar, if gas is extracted at a rate of 10 to 15 million cubic feet per day, it could provide supply for the next 20 to 25 years.
Drilling and evaluation work on the exploratory and development well began on 29 April 2024, reaching a depth of 3,113 metres.
Gas was detected in three layers: the first with a thickness of 52 metres (1,921-1,973 metres), the second with 37 metres (2,548-2,585 metres), and the third with 20 metres (3,081-3,101 metres).
Following the completion of a drill stem test (DST) on 18 September, it was confirmed that the well is capable of producing 10 to 19 million cubic feet of gas daily.
Considering the blended cost of domestic and imported gas at Tk22.87 per cubic metre, the estimated value of the 180 BCF reserve is approximately Tk11,657 crore. In comparison, based on the import price of LNG at $11.5 per MMBTU, the same volume would cost approximately Tk703,386 crore, assuming an exchange rate of Tk120 per USD.
The project cost for drilling the Begumganj-4 (West) well stands at an estimated Tk100 crore.
An additional 3-kilometre gas gathering pipeline is required to connect the well to the regional transmission network, with installation expected to be completed by December.
The extracted gas, between 10 to 15 million cubic feet per day, will be supplied to the Bakhrabad Gas Distribution Company, meeting the local demand.
Petrobangla anticipates that this supply will allow previously diverted gas from the Bakhrabad system, currently supplied to Dhaka via GTCL’s pipeline, to remain available in the capital.
Energy experts have long attributed the country's gas shortages to stagnation in exploration efforts, a situation exacerbated by decades of inefficiency.
However, these days seem to be changing under the leadership of current Petrobangla Chairman Janendra Nath Sarkar.
Not only has the pace of exploration quickened, but the oil and gas search is gaining new momentum. Previously, Bapex rigs often sat idle due to manpower shortages and a lack of planning, but for several months now, all five rigs have been continuously operational.
Even before completing one task, preparations for the next are already underway, and plans to acquire an additional rig are in progress.
In the last 112 years, approximately 99 exploratory wells have been drilled in Bangladesh. Petrobangla now has an ambitious plan to drill 69 more wells over the next three years, which experts deem essential despite its ambitious scope.
Typically, success is defined as finding gas in one out of every ten wells drilled, but Bangladesh has been fortunate, discovering gas in one out of every three exploratory wells.
Historically, Bangladesh extracted as much as 2,800 million cubic feet of gas per day from domestic fields.
However, reserves have dwindled, and production now stands at just 2,000 million cubic feet. To meet the shortfall, LNG imports began in 2018, with two floating LNG terminals installed at Maheshkhali. However, supply is disrupted whenever the sea becomes too rough for the terminals to operate.
