BAPEX Gets Taka 1,136 Cr to Drill Deep Gas Wells

The government of Bangladesh has greenlit a major initiative to bolster domestic gas production by approving a Taka 1,136.25-crore project to drill three new exploration wells in Srikail, Mobarakpur, and Fenchuganj.

The project, titled "Drilling of Three Exploration Wells (Srikail Deep-1, Mobarakpur Deep-1 and Fenchuganj South-1)," was proposed by the Energy and Mineral Resources Division and will be implemented by the state-owned Bangladesh Petroleum Exploration and Production Company Limited (BAPEX).

The primary goal is to strengthen the country's indigenous gas supply amidst soaring industrial and household energy demand. The wells are strategically located across Chattogram, Sylhet, and Rajshahi divisions.

The project is scheduled for completion by December 2027. Funding consists of a Taka 909-crore loan from the government and Taka 227.25 crore contributed by BAPEX from its own resources.

The Srikail Deep-1 and Mobarakpur Deep-1 wells will each be drilled to a significant depth of 6,000 meters, while Fenchuganj South-1 will reach 4,000 meters.

Planning Adviser Dr. Wahiduddin Mahmud highlighted the strategic necessity of the project, noting that "almost no new wells were drilled" in the last 15 years. He emphasized that this initiative represents a long-term approach to strengthening BAPEX and energy security, despite the current need for LNG imports.

Based on 3D seismic data, the three structures show strong geological potential. If commercial gas is discovered, the estimated recoverable gas is 1,018.14 Billion Cubic Feet (BCF), which is expected to play a critical role in reducing dependency on imported LNG and enhancing the national reserve base.

The Executive Committee of the National Economic Council (ECNEC) approved the project, following the recommendation of the Project Evaluation Committee (PEC), which stressed the need for timely implementation and modern drilling technologies.