Bangladesh Petroleum Exploration and Production Company Limited (Bapex) will drill three new gas exploration wells in Chattogram, Sylhet, and Rajshahi regions, with an investment of Tk1,136 crore.
The initiative is expected to be pivotal in securing the country’s long-term energy needs.
The project was approved at the Executive Committee of the National Economic Council (Ecnec) meeting on 1 December 2025.
The primary goal of the project is to boost the country’s gas reserves to 1,696 billion cubic feet by December 2027. Bapex estimates that approximately 1,018 billion cubic feet of gas can be extracted from the wells, which will significantly enhance the nation’s gas reserve base.
The Shrikail Deep-1 and Mobarakpur Deep-1 wells will be drilled to a depth of 6,000 metres, while the Fenchuganj South-1 well will reach a depth of 4,000 metres. These locations were selected based on three-dimensional seismic surveys and geological data.
This initiative is part of Bapex’s long-term plan to drill 150 exploration wells. In September, the interim government also approved Bapex’s 9th and 10th gas exploration projects, valued at Tk2,132 crore, which include the deployment of gas exploration rigs in the Bay of Bengal, off the coast of Bhola.
According to Petrobangla’s estimates, Bangladesh’s current gas reserves stand at 28.62 trillion cubic feet, with 19.94 trillion cubic feet extracted by 2022, leaving only 8.68 trillion cubic feet in reserve.
The shift in policy towards LNG (Liquefied Natural Gas) imports, rather than focusing on domestic gas exploration, has raised concerns over the country’s energy security, particularly after the surge in LNG prices following the Ukraine war.
Currently, Bangladesh faces a daily gas demand of 3,800 million cubic feet, while only 2,550 million cubic feet is supplied, creating a significant shortfall. This shortage has disrupted industries, power plants, and residential customers, particularly in regions such as Gazipur, Narayanganj, Munshiganj, and Narsingdi, where factories are experiencing production halts due to the lack of gas.
Following the Ecnec meeting, Planning Advisor Wahid Uddin Mahmud stated that although the benefits of this exploration will take time to materialise, it will play a vital role in ensuring the country’s long-term energy security.
Of the total project cost of Tk1,136.25 crore, Tk909 crore will be provided as a loan from the government, while Bapex will contribute Tk227.25 crore from its own funds.
