BAPEX to procure exploration equipment
Saturday, 15 November 2008
FHM Humayan Kabir
The state-owned Bangladesh Petroleum Exploration and Production Company Ltd. (BAPEX) is going to procure a work-over rig and some other exploration equipment to boost its capacity.
The company, which was almost ineffective for about one decade, has recently sent a project proposal to the planning ministry aiming to procure the hydrocarbon exploration and production equipment, officials said Friday.
"Procurement of those equipment will strengthen the capacity of BAPEX to some extent. These will help us to find new gas fields in the country," general manager (drilling) of BAPEX Amzad Hossain told the FE.
He said: "We've only one work-over rig. Its efficiency level has gone down. It was procured 20 years ago."
The cash-starved state-owned hydrocarbon exploration entity is also procuring a drilling rig from a Chinese company for new gas and petroleum exploration and production.
Another BAPEX official said the work-over rig and other tools to be purchased at a cost of Tk 2.0 billion will be utilized for seismic data acquisition and exploration work.
The government will provide the fund to procure the equipment under a project --"Exploration and production capacity building of BAPEX" from the Japan Debt Cancellation Fund (JDCF).
"It will take a couple of years to procure the work-over rig. It will help us to boost our survey, exploration and production capacity in different gas fields in the country," the BAPEX official said.
He said the Bapex have been allocated Tk 945 million for procuring the essential work-over rig.
"We produce or augment gas production in our own fields as well as fields of other public-owned gas producing companies. But our existing rigs are not capable to do the work efficiently," he said.
BAPEX drilled some wells at Kailastila, Shahbajpur, Narshingdi and Habiganj gas fields and augment gas production at Fenchuganj, Kailastila, Rashidpur fields under different state-owned gas producing companies through its old drilling and work-over rigs.
Sometimes the company conducts different exploration work by hiring drilling rig from international oil companies spending thousands of dollars.
The BAPEX official said the rig, if procured, would help save a large amount of the country's foreign currency.
The state-owned Bangladesh Petroleum Exploration and Production Company Ltd. (BAPEX) is going to procure a work-over rig and some other exploration equipment to boost its capacity.
The company, which was almost ineffective for about one decade, has recently sent a project proposal to the planning ministry aiming to procure the hydrocarbon exploration and production equipment, officials said Friday.
"Procurement of those equipment will strengthen the capacity of BAPEX to some extent. These will help us to find new gas fields in the country," general manager (drilling) of BAPEX Amzad Hossain told the FE.
He said: "We've only one work-over rig. Its efficiency level has gone down. It was procured 20 years ago."
The cash-starved state-owned hydrocarbon exploration entity is also procuring a drilling rig from a Chinese company for new gas and petroleum exploration and production.
Another BAPEX official said the work-over rig and other tools to be purchased at a cost of Tk 2.0 billion will be utilized for seismic data acquisition and exploration work.
The government will provide the fund to procure the equipment under a project --"Exploration and production capacity building of BAPEX" from the Japan Debt Cancellation Fund (JDCF).
"It will take a couple of years to procure the work-over rig. It will help us to boost our survey, exploration and production capacity in different gas fields in the country," the BAPEX official said.
He said the Bapex have been allocated Tk 945 million for procuring the essential work-over rig.
"We produce or augment gas production in our own fields as well as fields of other public-owned gas producing companies. But our existing rigs are not capable to do the work efficiently," he said.
BAPEX drilled some wells at Kailastila, Shahbajpur, Narshingdi and Habiganj gas fields and augment gas production at Fenchuganj, Kailastila, Rashidpur fields under different state-owned gas producing companies through its old drilling and work-over rigs.
Sometimes the company conducts different exploration work by hiring drilling rig from international oil companies spending thousands of dollars.
The BAPEX official said the rig, if procured, would help save a large amount of the country's foreign currency.