What's new

Dhaka looks to Moscow for oil, gas exploration

BanglaBhoot

RETIRED TTA
Apr 8, 2007
8,839
5
5,417
Country
France
Location
France
Dhaka, Dec 28 (IANS) Bangladesh has offered Russian energy corporation Gazprom joint venture projects in oil and gas sector after lukewarm response to its bids from the western multi-national corporations.

State sector Petrobangla's chairman Hossain Mansur said that they were hopeful of signing agreements at the end of next February when Gazprom's chairman Viktor Zubkov visits here.

Petrobangla offered Gazprom the chance to make joint venture investments in oil and gas exploration in five remote areas, including Patiya, Kachalong, Jaldi and Sita Hills in Chittagong.

It also offered setting up of the Jalalabad-Bibiyana-Dhanua 190-km gas pipeline, along with two compressor stations in Chittagong and the western side of Jamuna river, and two processing plants in the state-run gas fields and a well.

Hossain Mansur told the New Age newspaper that Gazprom was the largest energy corporation in the world, and its chief Zubkov, who was also the first deputy prime minister of Russia, was visiting Bangladesh as a follow-up of Prime Minister Sheikh Hasina's visit to Russia last month.

Petrobangla needed to set up more gas pipe lines from Sylhet in the northeastern region where it has been planning to set up compressor and pumping stations to improve gas supply in the country.

Although it allotted a block to an Irish firm and two to Americans, Bangladesh's bid to invite western MNC for oil and gas exploration, both on and offshore, have met with limited success.

Dhaka also needs to clearly demarcate its maritime boundary, being sandwiched as it is by neighbours India and Myanmar.

Dhaka looks to Moscow for oil, gas exploration
 
Bangladesh has a proven reserve of approximately 56.9 million barrels(2006 survey).
Daily consumption being 85,000 bbl/d. So that would be like 1.8 years of internal consumption. Which isn't anything substantial. This small reserves should hav been utilized by local energy companies. The government should finance local explorations(such as by bapex) rather than selling off the blocks to foreign companies. The present produnction capacity is only 4000 bbl/d.
 
Gas (Proven+Probable) 28,619.70 Bcf 28.62 Tcf
Recoverable 20,631.45 Bcf 20.63 Tcf
Cumulative Gas Production as June-07 7,102.91 Bcf 7.10 Tcf
Remaining Reserve 13,528.54 Bcf 13.53 Tcf
Gas Production in June-07 40.83 Bcf 0.04 Tcf
 
Good news....russia has a vast gas and oil reserve with experience of exploring as well....hopefully better efficiency will be maintained once this venture goes forward....

However, did we purchase oil and gas from russia earlier...?


Cheers!!!
 
Bangladesh has a proven reserve of approximately 56.9 million barrels(2006 survey).
Daily consumption being 85,000 bbl/d. So that would be like 1.8 years of internal consumption. Which isn't anything substantial. This small reserves should hav been utilized by local energy companies. The government should finance local explorations(such as by bapex) rather than selling off the blocks to foreign companies. The present produnction capacity is only 4000 bbl/d.

I think, the estimates given in post #3 by MBI Munshi is more reliable than the estimate you have posted. Is your one probable or proven? I have one survey report done by the USA that also says the proven gas reserve to be around 32 trillion cft. Please check your source.

I welcome the effort to include Russian expertise in our oil/gas sector. But, the question remains, will the Russians accept our bid?
 
I welcome the effort to include Russian expertise in our oil/gas sector. But, the question remains, will the Russians accept our bid?


Well, i think they should....Bangladesh should be a lucrative destination, with cheap labour and infrastructure....plus, it could be commercially profitable for them....


Cheers!!!
 
I think, the estimates given in post #3 by MBI Munshi is more reliable than the estimate you have posted. Is your one probable or proven? I have one survey report done by the USA that also says the proven gas reserve to be around 32 trillion cft. Please check your source.

I welcome the effort to include Russian expertise in our oil/gas sector. But, the question remains, will the Russians accept our bid?

Sorry but I was talking about oil reserve not gas. MBI's estimate isn't wrong and I wasn't saying its wrong. Its just an opinion and anyone can differ with it. There were many articles in newspapers about the tendency of every government to award work orders to foreign expertise while we have companies like bapex and petrobangla in a standby state. Still russian investment should be good for us.
 
Last edited:
instead of privatising this fields, can't we have it government controlled? Corruption and efficiency are almost inevitable but in the near future when Bangladesh does develop, we would still need our resources. Don't get me wrong, I believe in international diplomacy and free market systems, but privatising the very few resources we have can lead foreigners to intrude our economic system. anyways, just my opinion, maybe wrong.
 
28 Dec, 2010, 09.55PM IST,PTI


B'desh invites Indian ONGC to explore gas in restive hill region


B'desh invites ONGC to explore gas in restive hill region - The Economic Times


DHAKA: Energy-starved Bangladesh today invited proposals from global energy giants, including India's ONGC to explore natural gas in its insurgency-hit southeastern rugged Chittagong hills.

"We have invited expression of interest (EoI) from the foreign companies for carrying out exploration activities in the region," chief of the state-run Petrobangla Hossain Mansur told PTI.

He added that Oil and Natural Gas Commission of India , Sinopec and CNOOC of China, PTTEP of Thailand, Petronas of Malaysia were contacted for talks while other intending parties too were welcome with their EoIs.

Energy experts and geologists said Chittagong Hill Tracts (CHT), which makes up one-tenth of Bangladesh, earlier could not be explored as the region witnessed a two-decade long tribal insurgency demanding regional autonomy until a landmark 1997 peace deal.

Mansur, however, said Petrobangla did not expect a huge reserve in the region which "witnessed many tectonic ups and downs over the millennium" but believed there were recoverable reserves in certain pockets of the hilly region bordering Indian and Myanmar.
 
I think its a good idea that we are attracting foreign company for oil and gas exploration but it will be more lucrative if we can form joint venture with foreign company's and bapex which will give the bapex the experience and gradually we can became independent of this foreign company . our main problem is our bapex has not been utilized well and not modernised with time even though they have proved their worth by their old equipment even the success rate s also high . money for modernizing bapex can not be a problem because we can sell some share to public in stock market which is trading more then tk.1200 average .
 
Good news....russia has a vast gas and oil reserve with experience of exploring as well....hopefully better efficiency will be maintained once this venture goes forward....

However, did we purchase oil and gas from russia earlier...?


Cheers!!!

most probably not . we are buying oil from middle eastern country and recently contemplating to import LNG from Qatar .
 

Users Who Are Viewing This Thread (Total: 2, Members: 0, Guests: 2)


Pakistan Defence Latest Posts

Back
Top Bottom