Gazprom's subsidiary in prospecting and development of hydrocarbon deposits overseas, Gazprom International, signed two contracts on drilling exploitation wells with the Bangladesh corporation for oil, gas, and minerals, PetroBangla.
On behalf of Gazprom International, Senior Executive Vice President of Gazprom International, Yuri Skok, and on the behalf Bangladesh and in accordance with the country's legislation, Corporate Secretary of Bangladesh Petroleum Exploration and Production Company Ltd., Bangladesh Gas Fields Company Ltd. and Sylhet Gas Fields Ltd. (a subsidiary of PetroBangla) signed the contracts.
In accordance with the agreement, Gazprom International will design and drill 10 exploitation wells on the deposits of Titas (4 wells), Rashidpur, Semutang, Begumganj, Shrikail, and Shahbazpur (2 wells).
Of the 10 planned wells, 8 will be on inclined slops and 2 will be vertical. The planned depth of the well's bottomhole will be from 2900 to 4050 meters. The duration of work will be 20 months.
In his welcoming remarks, Yuri Skok mentioned that Gazprom International aspires to create a "strong, long-term partnership with PetroBangla."
"We hope that our joint work will facilitate the resolution of Bangladesh's energy problems and will provide a significant contribution towards strengthening the country's independence in the area of energy," he said.
Bangladesh is in dire need of an increase in its own procurement of natural gas. Today, its development is about 18 billion cubic metres of gas per year which is gradually decreasing. At the same time, the country's current demand is 21 billion cubic metres of gas, which is used predominantly for power plants and production factories of mineral fertilizers.
Earlier, in a meeting in the Moscow office of Gazprom International with the management of the company, representatives of the Bangladesh side stated that in the last 10 years the republic has not carried out work in prospecting and developing new deposits, and gas production is decreasing. In connection with this, the government of the republic adopted the program of drilling new exploitation wells.