Anisul Islam Noor :
Bangladesh Petroleum Exploration and Production Company Limited (BAPEX) plans to add 40 crore cubic feet of natural gas in the national grid by 2018.
To enhance the capacity, BAPEX has initiated to buy a rig (gas well drilling equipment), hire three and some tools shortly, sources said.
BAPEX sought the fund from Gas Development Fund (GDF) and newly formed Energy Security Fund (ESF), said M. Atiquzzaman, BAPEX Managing Director.
According to the Petrobangla, (BAPEX, subsidiary of Petrobangla) 18 wells will be drilled in the first phase and for this an estimated amount of Tk 2000 crore will be required. Eleven wells will be drilled in the second phase after buying the rig and completing the survey for which Tk 2,500 crore will be needed.
BAPEX will recruit new 51 skilled manpower at the entry level and 138 for the administrative jobs. Already it has formed a technical committee with the retired experienced officials and engineers so that they can share their experience in the new activities.
Now a policy is being framed to use the funds. After implementation of the projects, 40 core cubic feet of gas will be added with the national grid by 2018, sources said.
The proposal is getting priority from the Energy Division. Some 29 new gas wells will be drilled using BAPEX’s own capacity, a BAPEX official said. Government has estimated implementation costs for Tk 4,500 crore.
M. Atiquzzaman said, “We are going to drill 29 wells and conducting some 2D survey. For that we will buy a rig and hire three. Already we are capable of operating onshore extraction. To achieve the full capacity, we are going to recruit sufficient manpower. We have received 78 thousand applications from which we shall select the right hands..”
In June, the Energy Division at a meeting instructed BAPEX to review the project cost because the current one is higher than previous ones.
As per BAPEX’s proposal to develop a well at Rupgonj, the cost will be Tk 61 crore; but for 29 new wells, Tk 90 to Tk 140 crore for each well has been estimated, which is deemed too high.
BAPEX has exhibited a higher success rate in exploration compared with the IOC’s. The entity’s cost of discovery is relatively lower.
Bangladesh Petroleum Exploration and Production Company Limited (BAPEX) plans to add 40 crore cubic feet of natural gas in the national grid by 2018.
To enhance the capacity, BAPEX has initiated to buy a rig (gas well drilling equipment), hire three and some tools shortly, sources said.
BAPEX sought the fund from Gas Development Fund (GDF) and newly formed Energy Security Fund (ESF), said M. Atiquzzaman, BAPEX Managing Director.
According to the Petrobangla, (BAPEX, subsidiary of Petrobangla) 18 wells will be drilled in the first phase and for this an estimated amount of Tk 2000 crore will be required. Eleven wells will be drilled in the second phase after buying the rig and completing the survey for which Tk 2,500 crore will be needed.
BAPEX will recruit new 51 skilled manpower at the entry level and 138 for the administrative jobs. Already it has formed a technical committee with the retired experienced officials and engineers so that they can share their experience in the new activities.
Now a policy is being framed to use the funds. After implementation of the projects, 40 core cubic feet of gas will be added with the national grid by 2018, sources said.
The proposal is getting priority from the Energy Division. Some 29 new gas wells will be drilled using BAPEX’s own capacity, a BAPEX official said. Government has estimated implementation costs for Tk 4,500 crore.
M. Atiquzzaman said, “We are going to drill 29 wells and conducting some 2D survey. For that we will buy a rig and hire three. Already we are capable of operating onshore extraction. To achieve the full capacity, we are going to recruit sufficient manpower. We have received 78 thousand applications from which we shall select the right hands..”
In June, the Energy Division at a meeting instructed BAPEX to review the project cost because the current one is higher than previous ones.
As per BAPEX’s proposal to develop a well at Rupgonj, the cost will be Tk 61 crore; but for 29 new wells, Tk 90 to Tk 140 crore for each well has been estimated, which is deemed too high.
BAPEX has exhibited a higher success rate in exploration compared with the IOC’s. The entity’s cost of discovery is relatively lower.
