The interim government is set to fast-track two major gas exploration projects worth Tk 2,132 crore to boost domestic production, reduce reliance on costly LNG imports, and address the country’s growing energy demand.
The proposals for the two projects will be presented at Wednesday’s Executive Committee of the National Economic Council (ECNEC) meeting as part of the broader
strategy to increase gas extraction. The larger of the two projects involves the evaluation and development of wells at Shahbazpur-5 and 6, Bhola North-3 and 4,
and a new exploration well at Shahbazpur North-East-1, with a total estimated cost of Tk 1,555 crore. Of this, Tk 1,244.80 crore will be funded by government
loans, while Tk 310.86 crore will come from the Bangladesh Petroleum Exploration and Production Company (Bapex)’s own funds.
The second project, valued at Tk 577 crore, is focused on procuring a 2,000-horsepower drilling rig. This new rig will enhance Bapex’s capacity to drill 52 wells
and perform 16 workovers by 2028. Currently, Bapex operates five rigs, but three of them are outdated, with difficult-to-find spare parts and aging mud systems.
The addition of a new rig will significantly boost the company’s drilling capacity and improve operational efficiency.
Under the proposed plans, Bapex aims to initially drill five wells in Bhola district, covering Borhanuddin and Bhola Sadar upazilas. The drilling operations will
extend to other areas in subsequent phases. The wells will be drilled to depths of 3,500 to 3,600 meters, with tests and completion works. If gas reserves are
discovered, these wells will be fully developed and added to the national supply.
Since assuming office in August 2024, the interim government has already approved eight gas-related projects. Officials and analysts noted that these new projects
mark a significant departure from the previous administration’s focus on LNG imports, which has left Bangladesh struggling with a severe gas shortage in key
industrial regions.
Ecnec records show that previous approvals include projects such as a Tk 238 crore processing plant at Bhola North and exploration wells at Rashidpur-11, Dupitila-1,
and Kailashtila-9. A 3D seismic survey at Habiganj, Bakhrabad, and Meghna fields was also approved in February. Furthermore, a Tk 112 crore initiative to enhance
the Geological Survey of Bangladesh’s drilling capacity was approved in June.
Ruhul Amin, Member of the Planning Commission, confirmed that these two new projects will be up for Ecnec approval on Wednesday.
Energy Division Joint Secretary Md Aknur Rahman told TIMES of Bangladesh that the government is committed to boosting domestic gas production to meet the country’s
energy needs. He mentioned that 32 more gas exploration projects are already listed for future approval on the division’s green page.
Wednesday’s Ecnec meeting will also discuss 13 projects, including seven new ones, five revised projects, and one extension. These projects cover various sectors
such as socio-economic infrastructure, industry and energy, agriculture, and rural institutions.
