Gas field found in Zakiganj

Bangladesh announced the discovery of its 28th gas field in Sylhet's Zakiganj yesterday on the occasion of the National Energy Security Day. 

The state-owned Bangladesh Petroleum Exploration and Production Company (Bapex) made the discovery in June, but did not declare it formally as they were assessing the prospects of recovering gas from the drilled well in Ananadapur village of Zakiganj.

In a webinar, State Minister for Power, Energy and Mineral Resources Nasrul Hamid said they estimated that the field has 68 billion cubic feet of gas reserves.

"If we use 10 million cubic feet per day gas from this field, it will be extractable in next 12-13 years," he added.

"The value of the entire reserve at the new gas field would be Tk 1,276 crore," he said, saying that a 3D survey will be conducted to find the accurate position of the fossil fuel in the virgin field.

According to ministry officials, the GIIP (gas initially in place) is 68 TCF (trillion cubic feet) and the recovery would be 48 TCF. The pressure of the gas field they found was 6,260 PSI (pound per square inch) inside and 1,270 PSI in surface level.

The proven reserves in 27 gas fields are 21.4 TCF, with six more TCF potential reserves. There are only three TCFs left as proven stocks, and potential reserves are likely to be seven more TCFs.

Marking the historic decision of Father of the Nation Bangabandhu Sheikh Mujibur Rahman to take over five gas fields in Sylhet region from multinational Shell Oil Company in 1975, Energy and Mineral Resources Division organised the programme virtually.

Speaking as the chief guest of the event, Nasrul said the new gas field will play a very important role in the increasing demand for gas. The capacity of Bapex is enhancing gradually. At present, it is in its strongest position for invention and research, he said.

He added that the government has taken an initiative to replace the old gas pipelines in Dhaka city with new ones to check the gas leakages as part of its move to bring the entire gas distribution system automated and digitalised.

In the keynote speech, Director General of Hydrocarbon Unit Monjurul Qader said the decision of importing LNG was taken to make a balance between production and demand.

Eminent energy expert and Buet professor M Tamim said the government should put emphasis on setting up land-based LNG terminals and also import electricity from regional sources to meet the growing demand.

He added that gas will be used as transitional fuel in the next 20 years prior to using renewable energy as the future energy.

Anisur Rahman, senior secretary of the energy and mineral resources division, who presided over the programme, said the government has been importing gas from two companies under long-term contracts and also from other companies on the international spot market to meet the domestic demand.

"This import needs Tk 6,312 crore as subsidy to keep the price low in line with the local gas price as the import cost is $8-9 per unit against the price of local gas at $2.5-3 per unit," he said.

Chairman of the parliamentary standing committee on the ministry concerned Waseqa Ayesha Khan, its members Khaleda Khanon and Nargis Rahman, Petrobangla Chairman ABM Abdul Faatah and Bangladesh Petroleum Corporation Chairman ABM Azad, among others, spoke at the event.