State Minister for Power, Energy and Mineral Resources Nasrul Hamid said that the government is optimistic about the commercial production of oil from Sylhet-10 well. Testing is still going on and a final result will be known in two months, he said.
The state minister was talking to reporters after visiting Sylhet-10 well area on Saturday (February 17).
Earlier, he visited the Kailashtila-8 well excavation project, the head office of Jalalabad Gas Transmission and Distribution System Limited and inaugurated the Data Center of Bangabandhu Corner and a prepaid meter project. The state minister is staying in Sylhet region on a three-day tour. A bunch of programs including inspection of some gas fields and process plants, inauguration of model petrol pumps, inauguration of gas supply are scheduled during this tour.
The state minister also said that the pressure inside the well and at the mouth is very good, we are optimistic about the pressure at which oil is being obtained. He said that because the gas pressure is high here, two more wells have been dug. This will increase the production capacity of gas.
The state minister said, we have supplied electricity to the island through submarine cable. Now it has given momentum to the rural economy. But fuel must be ensured to keep the economy moving. No time to sit idle, Sylhet Gas Field Company is doing well, they deserve an award, he said.
In response to a question, Nasrul Hamid said, "We have experienced experts with us. Technical support is now available. And those who criticize, many of them do not have a good idea about it.”
Sylhet Gas Field Company Managing Director Mizanur Rahman was present. He told the reporters that Sylhet-10 well is very lucky, gas pressure is found 6000 psi here. The test yielded a pressure of 3200 psi while lifting 25 million cubic feet. Many wells experience pressure drop during extraction but Sylhet-10 is an exception.
The presence of oil was discovered on December 8 during the exploration of well number 10 of Sylhet gas field. Explorers confirmed the location of three gas layers as well as oil in the well. 1397-1445m depth of oil location identified. On the first day, 70 barrels of oil came out in 2 hours. Initially the API gravity is found to be 29.7 degrees. Once the test is completed, the oil reserves can be confirmed.
Initially the reserves are estimated to be 8 to 10 million barrels, but BAPEX's assessment says that reserves can stand at 15 to 18 million barrels with an expectation to yield 500 to 600 barrels of oil per day. The extracted oil has been sent to three labs including Bangladesh University of Engineering and Technology- BUET and Eastern Refinery for testing. A more detailed idea will be available once the results are available.
Testing is going on and it will take another 4 to 5 months to be fully confirmed. The gas layers of the well are located at depths of 2460 to 2475 m, 2540 to 2576 m and 3300 m. Gas reserves may range from 43.6 to 106 billion cubic feet. The state minister said that the price will be 8 thousand 500 crores.
Sylhet Gas Field Company is currently producing 115.2 million cubic feet of gas per day. Several projects including Kailashtila-8, Sylhet-10, Sylhet-10X and Sylhet-11 are underway. The company expects to be able to extract 250 to 280 million cubic feet of gas per day if the ongoing operations are completed by 2025.