Petrobangla, the state-owned oil, gas, and minerals corporation, is striving to complete the drilling of 48 wells across various gas fields, with the goal of adding 618 million cubic feet per day (mmcfd) to the national grid by 2025. This ambitious endeavor involves both Petrobangla's own entities and the engagement of contractors.

"We are committed to executing this plan within the stipulated timeframe and are prepared to pursue waivers for mandatory feasibility studies if necessary to expedite the process," stated a senior Petrobangla official, who spoke on condition of anonymity due to media protocol.

The plan aims to address the pressing gas shortage affecting sectors such as power and industries. Of the 48 planned wells, 23 will be drilled using Bapex rigs, while the remaining 25 will be outsourced to contractors at existing onshore gas fields under an accelerated schedule.

"These wells are part of the government's strategy to bolster gas production from local fields," revealed another high-ranking Petrobangla official, also preferring anonymity. However, he refrained from official comment, citing pending approvals for some wells from the government's highest authority.

Petrobangla initiated this program amidst declining gas production and dwindling reserve levels. Currently, the country's 20 operational gas fields yield between 1,600 and 1,900 mmcfd, while an additional 1,000 mmcfd is imported to meet the demand of approximately 4,000 mmcfd.

Officials have noted the rapid depletion of local gas fields and the decline in gas reserves. With 9 trillion cubic feet (tcf) of gas remaining out of a total reserve of 30 tcf, and 21 tcf already extracted, the demand for gas is escalating due to the establishment of new gas-fired power plants and industries nationwide.

As per Petrobangla's projections, gas demand is expected to reach 5,092 mmcfd by 2029-30, 6,072 mmcfd by 2034-35, and 6,986 mmcfd by 2040-41 under Scenario-2.

This initiative to drill 48 wells is part of an ongoing effort, with several wells, including Bhola North-2, Togbi-1, Elisha-1, already completed and contributing 126 mmcfd to the national grid.