Business Desk :
Bangladesh Gas Fields Company Limited has earned total Tk 2,714.27 crore from sales of natural gas and petroleum products including income from other sources.
After deduction of total revenue and other expenditure including supplementary duty & VAT, the company earned a pre-tax profit of Tk 310.97 crore during the fiscal year 2013-2014. The company has paid Tk2,327.62 crore to the national exchequer in the form of SD & VAT, DSL, dividend and income tax.
This was disclosed at its 59th Annual General Meeting held on Tuesday at Bangabandhu International Conference Center, Agargaon in the city, says a press release.
The AGM was chaired by Md Abubakar Siddique, Chairman of BGFCL Board and Secretary, Energy & Mineral Resources Division.
BGFCL is the largest state-owned natural gas producing company in the country. The company is significantly contributing to national development by producing natural gas and processing condensate as by-product to meet energy demand of the country. In the year 2013-2014, company’s 05 (five) gas fields were in production and a total of 288,025.004 million cubic feet gas was produced from 38 (thirty eight) producing wells at an average daily production of 789.11 million cubic feet which is approx. 34percent of total gas production of the country. As by-product of gas, 28,425,193 liters or 178,766 bbls condensate was also produced.
In addition, condensate from BGFCL’s own fields and some other fields of the country is fractionated into MS (Petrol) and HSD (Diesel) through company’s fractionation plants and the products are being supplied to BPC, Meghna Petroleum Limited and Padma Oil Company Limited for marketing.
To meet country’s growing gas demand as well as to mitigate the ongoing gas crisis through drilling/workover of wells and installation of gas compressor with uninterrupted gas supply, BGFCL has undertaken 16 projects at a cost of Tk. 5,170.00 crore. Among them five projects are financed by BGFCL, three by ADB, one by GOB, one by JICA and six by GDF. Upon implementation of the projects in the year 2013-2014, daily approx. 125 million cubic feet gas has been added to national grid by drilling of 8 new wells and workover/re-completion of 2 existing wells. Drilling works of 4 new wells at Titas Field is under implementation. On successful completion of drilling of these 4 wells, more 80-100 million cubic feet of gas per day is expected to be added to national grid. As a result, gas crisis in the country could be reduced to a certain extent.
Chairman of BGFCL Board in the meeting, thanked the officers & employees of BGFCL for discharging duties with their skillness, honesty and sincerity to accelerate the national development through continuing Company’s progress. He also expressed the hope that necessary assistance and cordial support from honorable Shareholders, Ministry, Petrobangla, the Board of Directors, Foreign Donors and other concerned organizations will continue to uphold Company’s success in future.
Bangladesh Gas Fields Company Limited has earned total Tk 2,714.27 crore from sales of natural gas and petroleum products including income from other sources.
After deduction of total revenue and other expenditure including supplementary duty & VAT, the company earned a pre-tax profit of Tk 310.97 crore during the fiscal year 2013-2014. The company has paid Tk2,327.62 crore to the national exchequer in the form of SD & VAT, DSL, dividend and income tax.
This was disclosed at its 59th Annual General Meeting held on Tuesday at Bangabandhu International Conference Center, Agargaon in the city, says a press release.
The AGM was chaired by Md Abubakar Siddique, Chairman of BGFCL Board and Secretary, Energy & Mineral Resources Division.
BGFCL is the largest state-owned natural gas producing company in the country. The company is significantly contributing to national development by producing natural gas and processing condensate as by-product to meet energy demand of the country. In the year 2013-2014, company’s 05 (five) gas fields were in production and a total of 288,025.004 million cubic feet gas was produced from 38 (thirty eight) producing wells at an average daily production of 789.11 million cubic feet which is approx. 34percent of total gas production of the country. As by-product of gas, 28,425,193 liters or 178,766 bbls condensate was also produced.
In addition, condensate from BGFCL’s own fields and some other fields of the country is fractionated into MS (Petrol) and HSD (Diesel) through company’s fractionation plants and the products are being supplied to BPC, Meghna Petroleum Limited and Padma Oil Company Limited for marketing.
To meet country’s growing gas demand as well as to mitigate the ongoing gas crisis through drilling/workover of wells and installation of gas compressor with uninterrupted gas supply, BGFCL has undertaken 16 projects at a cost of Tk. 5,170.00 crore. Among them five projects are financed by BGFCL, three by ADB, one by GOB, one by JICA and six by GDF. Upon implementation of the projects in the year 2013-2014, daily approx. 125 million cubic feet gas has been added to national grid by drilling of 8 new wells and workover/re-completion of 2 existing wells. Drilling works of 4 new wells at Titas Field is under implementation. On successful completion of drilling of these 4 wells, more 80-100 million cubic feet of gas per day is expected to be added to national grid. As a result, gas crisis in the country could be reduced to a certain extent.
Chairman of BGFCL Board in the meeting, thanked the officers & employees of BGFCL for discharging duties with their skillness, honesty and sincerity to accelerate the national development through continuing Company’s progress. He also expressed the hope that necessary assistance and cordial support from honorable Shareholders, Ministry, Petrobangla, the Board of Directors, Foreign Donors and other concerned organizations will continue to uphold Company’s success in future.
