Industries to receive more gas within 3 years
Sunday, 14 February 2010
Chevron, the US-based international oil company, can substantially augment production and supply of gas from the Bibiyana field by drilling more wells, as the government has approved a new assessment results of the Bibiyana gas-field reserve, reports UNB.
According to official sources, the state-owned Petrobangla officially approved the new assessment results from the Bibiyana gas-field last month and asked the US-based international oil company to go for increasing gas production in the field.
The US company, which operates the Bibiyana field, conducted a survey about its potential gas reserve and submitted the report to Petrobangla last September. After scrutinising the survey result, the Petrobangla accepted it and asked the Chevron to move forward with a development plan.
The survey report on Bibiyana indicated a larger reserve structure of 7.43 trillion cubic feet (TCF), which includes proven plus probable gas finds. The recoverable reserve is estimated to be 5.76 TCF.
Official sources said the foreign company would now move to carry out drilling for new wells in the field and increase the daily gas supply.
One official noted that with the new wells drilled, it would enable the field to increase gas production from the existing daily 600 million cubic feet to more than 1200 mmcfd within next two to three years.
Industry-insiders consider the new reserve of the Bibiyana gas field as the good news for Bangladesh as it has been experiencing nagging gas crisis that hampers operation of power plants, fertiliser factories and industries.
Petrobabgla Chairman Dr Hossain Monsur expressed hope that Chevron would be able to supply additional gas from Bibiyana field after digging new wells within the next two years.
"Bibiyana has a long life that will help Bangladesh meet its energy demand for several decades to come," the company was quoted as saying, adding that the new reserve could also go up by another 25 per cent.
At present, Chevron has been operating in three gas fields across the country under production-sharing contracts (PSC) with Petrobangla. The fields are Moulvibazar, Jalalabad and Bibiyana.
Chevron Bangladesh has a 98 per cent interest in Jalalabad and Moulvibazar fields. The company supplies around 250 mmcf gas a day from the two fields.
The company also has a 45 per cent stake in Block-7 in southern Bangladesh where it conducted seismic survey in 2006.
Gas-fields in Bangladesh currently produce around 1,980 mmcfd gas against a demand for over 2,200 mmcfd, in which Chevron alone has a stake of about 45 per cent.
According to official sources, the state-owned Petrobangla officially approved the new assessment results from the Bibiyana gas-field last month and asked the US-based international oil company to go for increasing gas production in the field.
The US company, which operates the Bibiyana field, conducted a survey about its potential gas reserve and submitted the report to Petrobangla last September. After scrutinising the survey result, the Petrobangla accepted it and asked the Chevron to move forward with a development plan.
The survey report on Bibiyana indicated a larger reserve structure of 7.43 trillion cubic feet (TCF), which includes proven plus probable gas finds. The recoverable reserve is estimated to be 5.76 TCF.
Official sources said the foreign company would now move to carry out drilling for new wells in the field and increase the daily gas supply.
One official noted that with the new wells drilled, it would enable the field to increase gas production from the existing daily 600 million cubic feet to more than 1200 mmcfd within next two to three years.
Industry-insiders consider the new reserve of the Bibiyana gas field as the good news for Bangladesh as it has been experiencing nagging gas crisis that hampers operation of power plants, fertiliser factories and industries.
Petrobabgla Chairman Dr Hossain Monsur expressed hope that Chevron would be able to supply additional gas from Bibiyana field after digging new wells within the next two years.
"Bibiyana has a long life that will help Bangladesh meet its energy demand for several decades to come," the company was quoted as saying, adding that the new reserve could also go up by another 25 per cent.
At present, Chevron has been operating in three gas fields across the country under production-sharing contracts (PSC) with Petrobangla. The fields are Moulvibazar, Jalalabad and Bibiyana.
Chevron Bangladesh has a 98 per cent interest in Jalalabad and Moulvibazar fields. The company supplies around 250 mmcf gas a day from the two fields.
The company also has a 45 per cent stake in Block-7 in southern Bangladesh where it conducted seismic survey in 2006.
Gas-fields in Bangladesh currently produce around 1,980 mmcfd gas against a demand for over 2,200 mmcfd, in which Chevron alone has a stake of about 45 per cent.