Prime Minister approved 100 well drilling project
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Well Drilling Project/Photo: Barta24.com
Chairman of Petrobangla Janendra Nath Sarkar confirmed to Barta24.com that Prime Minister Sheikh Hasina has given approval in principle for the project of drilling 100 wells for oil and gas exploration and production.
He told Barta24.com that we had put forward the works even before getting the Prime Minister's approval. Work has been put forward so that the Development Project Proposal (DPP) can be expedited. We are looking to avoid hiring consultants to save time and money. I want to do the work through an expert committee, where teachers and experts of Dhaka University will be involved as well as Petrobangla.
In response to a question, he said that the process of appointing consultants is a very long process and also very expensive. The work through the consultant will cost Tk. 50 to Tk. 60 lakhs. We can complete the same work at a nominal price of Tk. 50 thousand to Tk. 1 lakh. We can complete the work in 15 days which would take a few months for the consultant.
The Chairman of Petrobangla said that Petrobangla will dig a well and gas may or may not be found in that well. Feasibility studies should not be mandatory where there is a 100% chance of failure. Petrobangla should be allowed to work that way because the working pattern is completely different. Only then will the country's oil and gas exploration and production speed up.
A project of drilling 48 wells is currently underway. The 100 well drilling project which has received the Prime Minister's approval will be completed between 2026 and 2028. It will require Tk. 20 thousand crore. Tk. 7 thousand crore will be provided from the company's own funds. A funding of Tk. 3.5 thousand crore has been requested from the government every year.
Energy experts have been blaming the stagnation of exploration for the gas crisis in the country. Energy experts have been critical of Petrobangla for decades of laxity. But that day is now beginning to change. The current Chairman Janendra Nath Sarkar has changed the opening of Petrobangla. On the one hand, as the pace has increased, on the other hand, new dimensions have been added to oil and gas exploration.
Until now, Bangladesh was stuck in a certain bottleneck in oil and gas exploration. To put it more briefly, the Surma Basin i.e., starting from Sylhet, was stuck between Moulvibazar, Habiganj, Brahmanbaria, Cumilla, Feni, Noakhali and Bhola. Although there are some exploration activities in other areas, the amount can be said to be negligible. Petrobangla is going to bring radical changes there too.
About 99 exploratory wells have been drilled in the territory of Bangladesh in 112 years. And Petrobangla wants to dig 69 wells in 3 years. Although many people think it is ambitious, he commented that it is very important.
Professor of Geology Department at Dhaka University Dr. Badrul Imam said, if gas is not found in a well, it is not allowed to start commotion. If 8 out of 10 are dry, then it is not possible. In Rajasthan, Unocol drilled 13 wells in a row and got dry. The company's headquarters then asked not to drill any more wells, but the geologists risked a lot by drilling well number fourteen and discovered the largest mine in India.
In the seminar related to Petrobangla's 100 well drilling project, Professor of Geology Department of Dhaka University Dr. Anwar Hossain Bhuiyan said, if 25 wells fail, and if gas is found in 26th wells, the price is very high. Several times the cost will come up.
Chairman of Petrobangla said in that event, we have been brought out from the dark ages. If the well fails, I will take responsibility as Chairman. I promise that there will be no departmental case or investigation committee against any official. If I succeed, I will take responsibility if I fail.
Such a declaration of the Petrobangla Chairman has infused courage among the officers and employees. That is why Petrobangla has returned to speed in real terms.
