Bangladesh to Double Gas Production by 2015

Bangladesh Oil, Gas and Mineral Corporation Petrobangla will double its gas production by 2015 by extracting an additional 1.8 billion cubic feet per day.

Petrobangla chairman Mohammad Hussain Monsur told Reuters that his company has undertaken massive programmes to produce additional natural gas over the next five years to meet growing demand.

Petrobangla exploration arm, Bangladesh Petroleum Exploration and Production Company (BAPEX), will drill eight exploratory wells by 2012.

BAPEX intends to explore on-shore gas fields, while Petrobangla will conduct seismic surveys on offshore gas fields with the help of international oil firms.

The Bangladesh Government says current gas reserves will run out by 2014-15 at the present consumption rate.

Demand for gas in the country stands at 2.5 billion cubic feet per day against a production of two billion cubic feet per day, and is expected to rise to 4.5 billion cubic feet per day by 2020.