The drilling of the Tobgi-1 exploratory well in the Shahbazpur gas field in Bhola has been successful and the probable gas reserves in the well are about 239 billion cubic feet, said State Minister for Power, Energy and Mineral Resources Nasrul Hamid.

"From there, gas production will be possible for 30 to 31 years at an average rate of 20 million cubic feet per day," he said while speaking to reporters on Thursday (3 November). 

The estimated value of the gas is about Tk8,059.08 crore, he added. 

Nasrul Hamid said that the government is working to find domestic sources of energy.

"To this end, Petrobangla plans to drill a total of 46 exploration, development, and workover wells during the period 2022-2025," the sate minister said. 

"As a part of this, under the supervision of BAPEX, through Gazprom, on 19 August, 2022, the drilling of Tobgi-1 exploratory well of Shahbazpur gas field in the Bhola district was started with the aim of digging up to a depth of about 3500 meters. By the grace of Almighty Allah, on 29 September 2022, excavation work was successfully completed at a depth of 3524 meters," he added. 

"The drill stem test (DST) programme undertaken to determine the potential gas reserves and production rate in the well after the drilling of the well was successfully completed on 1 November 2022. The latest DST programme conducted gas flow test from the well using 32/64 inch sized choke at an average rate of 20 million cubic feet per day, which is promising," the minister said. 

Tobgi-1 well area is located approximately 3.17 km from Shahbazpur gas field.

"According to geological data and DST report, the potential gas reserves in this exploration well are about 239 billion cubic feet (BCF). Considering the daily average gas production rate of 20 million cubic feet, 30-31 years of gas production from the well will be feasible," Nasrul Hamid said. 

He further said, "Considering the stated reserves of gas in Tobgi-1 well, the estimated value of the gas is Tk8059.08 crore, which is much more than the cost of importing LNG."

"By 7 November, 2022, the completion of the well and installation of the Christmas tree will be completed in order to make the well productive," he added. 

Nasrul Hamid also said that 2 more wells - Elisha-1 and Bhola North-2 will be excavated under the project.

After the completion of the project, the total daily production target of 46 to 55 million cubic feet of gas can be achieved from the 3 wells, he added. 

"A lot of gas has been saved by load shedding in the last three months, due to which it has been possible to supply uninterrupted gas to industrial plants. The electricity situation is improving. The situation will improve further in November – February," the state minister said.

He also added that load shedding will start reducing this month. In the next few months, load shedding will reduce further in the country.

Gas supply to private vehicles will not be stopped, the state minister further said.