Plan to raise gas production by 648 mcf daily

The interim government plans to increase gas production by 648 million cubic feet per day by December 2025 through the installation and workover of 50 wells, reports BSS.

Besides, a work plan has been set to boost production by 1,500 million cubic feet daily through the drilling and/or workover of 100 wells from January 2026 to December 2028, according a progress report on the works of different ministries and divisions.

The chief adviser's press wing shared the document to mark the first three months of the government.

The average gas production stood at 2,643 million cubic feet per day in the 2018-19 fiscal, which fell to 2,423 million cubic feet per day in the 2019-20 fiscal and 2,201 million cubic feet per day in the 2022-23 fiscal, official data showed.

Patrobangla has already cancelled the Terminal Use Agreement (TUA) and Implementation Agreement (IA) with Summit LNG Terminal II Co. Ltd for the construction of the third Floating Storage Regasification Unit (FSRU) in Moheskhali of Cox's Bazar.

The governing bodies of the companies under the Power and Mineral Resources have been reconstituted, aiming to bring transparency and accountability in the companies, the report said.

The Bangladesh Energy Regulatory Commission Act 2003 has been amended to grant the Bangladesh Energy Regulatory Commission the authority to adjust gas prices.

The octane and petrol prices have been lowered by Tk 6 and diesel and kerosene prices by Tk 1.25 with a view to keeping the fuel prices at an affordable level.

The report said that dues for importing fuel have been reduced to $160 million from $478 million.