Gazprom to submit revised offer to drill 10 gas-wells

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FE Report Russian energy giant Gazprom will submit a revised financial offer to Petrobangla this month to drill ten onshore gas-wells to augment the country's overall gas output, officials said Tuesday. "We had discussion with Gazprom top officials last week over its previous offer. As a consequence the Russian firm has agreed to submit its revised proposal," Petrobangla Chairman Dr Hussain Monsur told the FE Tuesday. He hoped that a deal between the two state-owned gas entities -- Petrobangla and Gazprom -- can be signed after submission of the revised offer. Gazprom earlier placed a financial offer to Petrobangla in August to conduct drilling in 10 onshore gas-wells. Officials said Gazprom's previous financial offer was rather high, which prompted the Russian firm to place a revised financial offer, downsizing its proposed drilling costs. Petrobangla and Gazprom already held discussions several times since April 2010, when Gazprom assured a Bangladesh delegation to help boost production in the country's state-owned gas-wells. Gazprom is in talks with Petrobangla to drill five gas-wells that the Polish oil and gas exploration company Poszukiwania Nastyi Gazu Krakow refused to drill. Krakow was earlier selected by the energy ministry, following a competitive bidding, to drill the gas wells. Four of these wells are located in Titas gas-field, owned by Bangladesh Gas Fields Company (BGFC), and the remaining one in Rashidpur gas-field of Sylhet Gas Fields Company (SGFC). Gas output of around 100 million cubic feet per day (mmcfd) is expected from the five wells. The Russian firm will also drill five more wells in Titas and other gas-fields in the country, Petrobangla officials said.