Avisheik
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Oil found in two old gas fields
3D seismic survey points to oil prospects in Titas field too
Bangladesh Petroleum Exploration & Production Company Ltd (Bapex) has determined, through a seismic survey, presence of around 150 million barrels of oil in old gas fields of Kailashtila and Haripur in Sylhet.
No less than 40 percent of this small reserve could be commercially produced, said Bapex Managing Director Mortuza Ahmad Faruque.
This implies that around 700 barrels a day could be produced from the two fields under Sylhet Gas Field Company Ltd.
Roughly, seven barrels equal to a tonne.
If the potential was explored, the government could produce around 35,000 tonnes of oil a year from these fields and save a small yet important import cost.
Bangladesh currently imports around 7 million tonnes of oil at a very high rate worth several billion dollars, putting heavy inflationary pressure on the economy.
Besides, the three-dimensional seismic survey conducted last year also pinpointed some new small gas reserves in both these fields that could be tapped into.
A report on this analysis was submitted to Petrobangla Wednesday. The Petrobangla would make it public early next week.
According to the Bapex managing director, the oil of Kailashtila field is light in nature, which is easily extractable, while the Haripur's oil is heavier. Kailashtila's reserve, spread in five to six layers, was almost three times of that in Haripur.
Bapex Managing Director Mortuza Ahmad Faruque notes, In order to tap into this oil resource, the authorities first need to hire an oil expert as a consultant to guide the government on how to properly produce oil from the two fields.
Bapex can drill the required wells in both these fields. But we will need a consultant to guide us on how to pump in water or what kind of compression should we use in producing the oil. Besides, we need to know how to tune the process plant to produce oil.
The Sylhet Gas Field Company now needs to start working on preparing a proposal to tap into these resources.
Meanwhile, Bapex is analysing results of another three-dimensional seismic survey in Titas, the country's biggest and oldest producing gas field under the Bangladesh Gas Field Company Ltd. The results of this survey would be available by August.
So far, the signs of Titas' [new prospects] are very good. There are indications of oil and (new) gas, Faruque pointed out.
Bapex was set to drill its biggest prospect of gas in Sunetra field in Sunamganj-Netrakona area in June. Based on studies, the company believes that this field might have two to three trillion cubic feet of gas. The preparation for this drilling took time due to difficulties in mobilising the rig and other heavy equipment through a rough road.
But now we are all set for the operation, the managing director said.
Upon completion of the survey's analysis, Bapex said Kailashtila has 1.7 trillion cubic feet of recoverable reserve and the Haripur field 310 billion cubic feet. Bapex found a new gas zone in Haripur with the possibility of hitting another 223 billion cubic feet of gas.
Oil was first discovered in Haripur field back in the late 80's. The oil was thick and the authorities ran a drilling stamp test to pump out around 500 barrels of oil. But they used the technique applicable for gas production, not for oil production. Later the government considered the field commercially not viable and it was abandoned.
Using indigenous gas by-product condensate, the Sylhet Gas Field Company Ltd was already producing 3,000 tonnes of octane, petrol, diesel and kerosene a day by setting up a Fractionation Plant in Rashidpur. This translates into an annual production of more than one lakh tonnes of petroleum products, which covers most part of the local octane demands.
(taken from the daily star)
3D seismic survey points to oil prospects in Titas field too
Bangladesh Petroleum Exploration & Production Company Ltd (Bapex) has determined, through a seismic survey, presence of around 150 million barrels of oil in old gas fields of Kailashtila and Haripur in Sylhet.
No less than 40 percent of this small reserve could be commercially produced, said Bapex Managing Director Mortuza Ahmad Faruque.
This implies that around 700 barrels a day could be produced from the two fields under Sylhet Gas Field Company Ltd.
Roughly, seven barrels equal to a tonne.
If the potential was explored, the government could produce around 35,000 tonnes of oil a year from these fields and save a small yet important import cost.
Bangladesh currently imports around 7 million tonnes of oil at a very high rate worth several billion dollars, putting heavy inflationary pressure on the economy.
Besides, the three-dimensional seismic survey conducted last year also pinpointed some new small gas reserves in both these fields that could be tapped into.
A report on this analysis was submitted to Petrobangla Wednesday. The Petrobangla would make it public early next week.
According to the Bapex managing director, the oil of Kailashtila field is light in nature, which is easily extractable, while the Haripur's oil is heavier. Kailashtila's reserve, spread in five to six layers, was almost three times of that in Haripur.
Bapex Managing Director Mortuza Ahmad Faruque notes, In order to tap into this oil resource, the authorities first need to hire an oil expert as a consultant to guide the government on how to properly produce oil from the two fields.
Bapex can drill the required wells in both these fields. But we will need a consultant to guide us on how to pump in water or what kind of compression should we use in producing the oil. Besides, we need to know how to tune the process plant to produce oil.
The Sylhet Gas Field Company now needs to start working on preparing a proposal to tap into these resources.
Meanwhile, Bapex is analysing results of another three-dimensional seismic survey in Titas, the country's biggest and oldest producing gas field under the Bangladesh Gas Field Company Ltd. The results of this survey would be available by August.
So far, the signs of Titas' [new prospects] are very good. There are indications of oil and (new) gas, Faruque pointed out.
Bapex was set to drill its biggest prospect of gas in Sunetra field in Sunamganj-Netrakona area in June. Based on studies, the company believes that this field might have two to three trillion cubic feet of gas. The preparation for this drilling took time due to difficulties in mobilising the rig and other heavy equipment through a rough road.
But now we are all set for the operation, the managing director said.
Upon completion of the survey's analysis, Bapex said Kailashtila has 1.7 trillion cubic feet of recoverable reserve and the Haripur field 310 billion cubic feet. Bapex found a new gas zone in Haripur with the possibility of hitting another 223 billion cubic feet of gas.
Oil was first discovered in Haripur field back in the late 80's. The oil was thick and the authorities ran a drilling stamp test to pump out around 500 barrels of oil. But they used the technique applicable for gas production, not for oil production. Later the government considered the field commercially not viable and it was abandoned.
Using indigenous gas by-product condensate, the Sylhet Gas Field Company Ltd was already producing 3,000 tonnes of octane, petrol, diesel and kerosene a day by setting up a Fractionation Plant in Rashidpur. This translates into an annual production of more than one lakh tonnes of petroleum products, which covers most part of the local octane demands.
(taken from the daily star)
Congrats fellas, this will certainly spur more economic growth or atleast save a ton of Forex 
