Mirza - Deputy General Manager, Petrobangla

From geological point of view Bangladesh is situated in the central part of Bengal Basin, which is known as one of the biggest delta in the world. Its hydrocarbon potentiality has been proved through discovery of 22 gas fields and one oil field during the course of drilling only 62 exploration wells over the period of last 94 years. Hydrocarbon exploration activities have been continuing in Bangladesh territory since 1908. After the emergence of Bangladesh through a heroic liberation struggle in December, 1971 the Bangladesh Mineral, Oil and Gas Corporation (BMOGC) was established by a Presidential Ordinance. During reorganization of BMOGC the Bangladesh Petroleum Act 1974 was promulgated following which Petrobangla was formed in 1974 to promote and regulate exploration, production and distribution of petroleum. From the beginning of the 1980’s exploration was targeted on liquid hydrocarbon; and as a result Bangladesh has entered into the oil-era in December 1986, crude oil was discovered from the Sylhet 7 well in the Surma basin area of North-Eastern Bangladesh. Also oil flows were tested at Fenchuganj-2 and Kailastila-2 wells in the same basin. To meet the economic needs foreign investment in the field of petroleum exploration is encouraged in Bangladesh. During the period 1972-1999, 34 wells including 9 offshore wells were drilled by the national organization Petrobangla and foreign oil companies. Petrobangla discovered 9 gas fields and one oil field and foreign companies discovered 5 gas fields of which two are in offshore area. During 1972-1992, several foreign oil companies namely, Atlantic Richfield Company, Union Oil, Bengal Oil Development Company (Japanese interests), Ina-naftaplin, Canadian Superior Oil, Ashland, Shell and Scimitar were active under Production Sharing Contract (PSC) along with Petrobangla’s own exploration wing. Presently Cairn / Shell, Unocal, Okland and Tullow-Chevron-Texaco are active under PSCs. The National Exploration Company BAPEX is also active for implementing its own exploration programme. Rational use of petroleum resources for sustainable development of Bangladesh is one of the main objectives of the country.

Bangladesh, Foreign Investment, Sustainable, Development