People’s plight due to the gas crisis is set to subside as Bagladesh’s reserves have increased by about 2 trillion cubic feet (Tcf), said Bangladesh Oil, Gas & Mineral Corporation (Petrobangla).
“More than 9 Tcf of gas reserves are now available from 29 gas fields. The remaining reserves of the gas fields have been reviewed. The report regarding the reserve review has already been sent to the prime minister for approval. Once we get the approval, the information will be made public,” Petrobangla Chairman Zanendra Nath Sarkar told the Bangladesh First.
As of 5 March, 2.1 billion cubic feet of gas was being extracted per day.
If extraction continues at that rate, the annual extraction will be around 0.76 Tcf. Accordingly, if no new gas fields are discovered, the gas reserves will be exhausted in the next 12 years.
However, Petrobangla said it is optimistic as the amount of reserves has increased.
The company's 2022 annual report showed remaining gas reserves at 8.68 Tcf at the end of that year.
In 2023, about 1 Tcf of gas was extracted from domestically managed gas fields.
As a result, the reserve has decreased from 8.5 Tcf to around 7.5 Tcf.
Meanwhile, new reserves have been discovered in lisha-1 and several other fields – adding around 2Tcf into the gas reserves.
When asked if the gas reserves have increased in the Bibiyana field under the management of the multinational company Chevron, the Petrobangla chairman said, "I don't remember the exact figure at the moment. But their reserves are higher than before."
Energy experts have highlighted the laxity in exploration for the gas crisis in the country.
However, two more have been added to the ongoing 46-well project. The 48-well drilling project is set to be completed by 2025.
Apart from the 48-well drilling project, Petrobangla has undertaken plans to drill 100 more wells by 2026-28.
More than three hundred potential areas have been identified for this. From where 100 wells will be finalised after verification, Petrobangla sources said.
Out of 29 gas fields discovered in Bangladesh, gas is being extracted from 20.
