China’s stateowned oil- and gas-explorationcompany Sinopec is poised to secure a contract to drill five new gas wells on gasrich Bhola island, as Bangladesh moves to ramp up domestic production of the fuel amid mounting energy demand. Bangladesh Petroleum Exploration and Production Company Ltd (BAPEX), a subsidiary of Petrobangla, has selected the company following competitive bidding, and the official signing is expected soon, a senior Petrobangla official said.
under the agreement, Sinopec will carry out drilling works worth around Tk 11 billion, to be completed within 600 days of signing.
the project includes four development wells — Shahbazpur-5, Shahbazpur-7, Bhola North-3, and Bhola North-4 — and one exploratory well, Shahbazpur North-East-1. These wells will be drilled to depths of 3,500-3,600 meters, according to project documents.
the Executive Committee of the National Economic Council (ECNEC) has already approved the fivewell-drilling initiative as part of the government’s broader effort to boost local gas output and meet rising national energy demand.