Massive 5tcf gas resource found in Bhola, valued at Tk6.5 lakh crore

[BananaRepublic]

Give it to a foreign company and they take 50%.

Give it a Bangladesh company and you keep 100%.

Give it to foreign company and you get 30%.

Give it to Bangladeshi company and you get 0%!

 

[LeonBlack08]

Bangladesh is a relatively newer formed country created by sediment, but the coastal areas are as old as the neighboring countries.

Bangladesh had off shore operation too in Sangu. The wells went dry and operation was shut off in 2013. According to Petrobangla, about 488 billion cubic feet of gas is produced from this gas field from 1998 to 2014.

We haven't really explored our deep sea blocks for possible oil and gas reserves to date. The fact that Indians are extracting in region with close proximity to Bangladesh's maritime economic zone and our own operation in Sangu, all signs indicate there could be reserves. We will never know unless we explore. And we desperately need to explore to reduce our dependency on fossil fuel imports.

 

[Alter_Ego]

Playing devil's advocate I think it would be better if a decent amount of oil and gas at a time is found in BD, that gives just enough for a period to time to allow extremely cheap electricity generation and reduction of imports of oil and LNG to save precious forex.

Any "substantial" finds will probably be squandered and distort the BD economy and stop its development.

What would be nice now would be to find an oil field of a few billion barrels to stop any requirement for oil imports for 15-20 years.

Dont like to be messenger of bad news but geologically and stratigraphically the odds are not good for discovering large fields in the BoB.

But never say never.
Its still a unexplored shelf.

Norway forexample hit oil after several futile years with multiple dry wells. Philips Petroleum hit oil on the last well it drilled and rest is history.

 

[Michael Corleone]

This is a great news. This also gives hope that deep sea blocks may have larger reserves.

Myanmar is already extracting gas quite close to our maritime border.

 

[LeonBlack08]

Myanmar is already extracting gas quite close to our maritime border.

India too. They found oil as well.

 

[Michael Corleone]

India too. They found oil as well.

Great we will always be left with our phalanges in our hand

 

[Fallstuff]

I think it’s been restated to have 2.5 tcf of gas.

 

[AbuShalehRumi]

I think it’s been restated to have 2.5 tcf of gas.

Government is sticking to proven reserve amount, instead of probable reserve amount. Which is 5TCF...

 

[Alter_Ego]

India too. They found oil as well.

If the hc bearing layers are extensive enough. It may very well extentd into BD maritime border. In that case according to International law the extraction must be shared among bordering nations just like Qatar and Iran is doing.