New BAPEX drilling rig to be in operation from July
Thursday, 24 June 2010
FE Report
The country's ailing state-owned gas and oil explorer BAPEX is set to undergo a full rejuvenation as it will develop two gas fields with its newly procured modern drilling rig, which will be launched next month, officials said Tuesday.
Bangladesh Petroleum Exploration and Production Company (BAPEX) officials said they have undertaken schemes at Salda and Fenchuganj gas fields to produce nearly 60 million cubic feet additional gas per day by 2011.
The government will invest Tk 3.11 billion in the gas field development work of the country's lone petroleum exploration company, a senior BAPEX official told the FE.
Under the new scheme, the BAPEX has sent a project proposal to the planning ministry to develop two wells at Salda and another two at Fenchuganj gas field.
"We are hopeful of producing an additional 60mcf of gas per day from the two structures by December 2011," the BAPEX official said adding: "We will start drilling at Fenchuganj gas field next month using the newly procured drilling rig."
BAPEX imported the sophisticated rig early this month. It has been trying to have it since 2004. The rig with a capacity to drill into a maximum 5000- metre depth has been taken to Fenchuganj field after being unloaded at the Chittagong port.
The Chinese Sichuan Hong Hua Petroleum Equipment Co (Shhpec) has supplied the "2000 HP" modern rig at a cost of Euro 19 million.
"The new rig will increase BAPEX's strength. Now the company will attain a level of excellence with the sophisticated and modern rig," general manager (GM) of the company Amzad Hossain told the FE.
The visibly ailing BAPEX has now become a renovated tool for searching and lifting gas and oil in the country, he said.
"If Petrobangla gives us adequate land, we will be able to drill at 10 sites annually with the new rig. But now we have very limited areas of land for searching for hydrocarbon," he said adding, "We can also rent out our rig to other companies when it will have no work with BAPEX."
The BAPEX GM said the gas explorer's production will expand more than three-fold within a couple of years from its present production capacity of 40mcf gas per day after starting work of the newly procured rig.
Before importing the new rig, the state-owned energy exploration company had two other rigs capable of drilling deep and one 'work-over' rig which have completed more than 25 years of age.
The country's ailing state-owned gas and oil explorer BAPEX is set to undergo a full rejuvenation as it will develop two gas fields with its newly procured modern drilling rig, which will be launched next month, officials said Tuesday.
Bangladesh Petroleum Exploration and Production Company (BAPEX) officials said they have undertaken schemes at Salda and Fenchuganj gas fields to produce nearly 60 million cubic feet additional gas per day by 2011.
The government will invest Tk 3.11 billion in the gas field development work of the country's lone petroleum exploration company, a senior BAPEX official told the FE.
Under the new scheme, the BAPEX has sent a project proposal to the planning ministry to develop two wells at Salda and another two at Fenchuganj gas field.
"We are hopeful of producing an additional 60mcf of gas per day from the two structures by December 2011," the BAPEX official said adding: "We will start drilling at Fenchuganj gas field next month using the newly procured drilling rig."
BAPEX imported the sophisticated rig early this month. It has been trying to have it since 2004. The rig with a capacity to drill into a maximum 5000- metre depth has been taken to Fenchuganj field after being unloaded at the Chittagong port.
The Chinese Sichuan Hong Hua Petroleum Equipment Co (Shhpec) has supplied the "2000 HP" modern rig at a cost of Euro 19 million.
"The new rig will increase BAPEX's strength. Now the company will attain a level of excellence with the sophisticated and modern rig," general manager (GM) of the company Amzad Hossain told the FE.
The visibly ailing BAPEX has now become a renovated tool for searching and lifting gas and oil in the country, he said.
"If Petrobangla gives us adequate land, we will be able to drill at 10 sites annually with the new rig. But now we have very limited areas of land for searching for hydrocarbon," he said adding, "We can also rent out our rig to other companies when it will have no work with BAPEX."
The BAPEX GM said the gas explorer's production will expand more than three-fold within a couple of years from its present production capacity of 40mcf gas per day after starting work of the newly procured rig.
Before importing the new rig, the state-owned energy exploration company had two other rigs capable of drilling deep and one 'work-over' rig which have completed more than 25 years of age.