The actual gas reserves in the country are still undiscovered. Exploration has not been carried out in many places. The reserves that have been discovered are gradually decreasing. As a result, dependence on LNG is increasing to solve the energy problem. Although the import of liquefied gas has increased for various reasons, there is not much momentum in new wells, exploration and drilling in the country. The immense potential of gas under the sea is also not being seen in the same way. In this situation, those involved in the sector say that new exploration and drilling should be accelerated further. Bangladesh Petroleum Exploration and Production Limited (Bapex) is working on this issue, but there are some limitations there too. Again, even if gas is discovered and produced, there is no adequate transportation system for how it will be brought to the mainland from some peripheral areas or how it will be used. Overall, there is still concern about how future energy can be ensured at a low cost.

According to scientists and geologists, the main gas reserves in Bangladesh as a hydrocarbon hub are in Sylhet and its surrounding areas. There are still many places where extensive exploration is required. In 2004, Norwegian scientist Professor Erling came to Bangladesh and conducted experiments. At that time, he told some geologists about the possibility of about 12 TCF (trillion cubic feet) of natural gas reserves in the Hatia region. Later, after further data examination at the national and international levels, it was mentioned that about 6.5 TCF of gas reserves were there. Bhola, Shahbazpur, Sundalpur, Feni and surrounding areas are included in this. About 1.5 TCF of gas has already been discovered there. It is expected that about 500 BCF will be added. Those concerned believe that it is not impossible to find 3-4 TCF of gas with additional drilling.

According to Bapex, significant gas reserves have been confirmed in Bhola. So far, Bapex has drilled 9 wells there. Several more wells will be drilled soon. Once these explorations are completed, the overall gas reserves can be further confirmed. So far, Shahbazpur has 1225 BCF of gas reserves. North Bhola has 622 BCF. Ilisha has 200 BCF of gas. In total, 2047 BCF of gas. Out of which, recoverable reserves are 1433 BCF of gas.

Petrobangla has taken the initiative to drill 50 wells, most of which are being carried out by Bapex. These include exploration wells, appraisal and development wells, and workover wells. Work on 19 wells has already been completed. However, no large-scale gas discovery has been made anywhere yet. The deadline for drilling the remaining 35 wells has been set until June 2026.

In another plan, the possible location and technical work for drilling 100 wells has already been completed. There will also be exploration, appraisal, development and workover wells. However, these works will mainly start after the completion of 50 wells. This project will take time until 2029 to complete.

Meanwhile, some limitations have been reported in Bapex's well drilling work. These include taking too long to approve the project, delaying land acquisition, issuing tenders for various works including equipment, taking too long to receive goods, and complications regarding LCs, etc.

Dr. Md. Anwar Hossain Bhuiyan, a professor and geologist at the Department of Geology at Dhaka University, believes that it is important to quickly increase well drilling in addition to exploration to ensure future energy security in the country. Regarding exploration and survey, he told Jugantar that so far, 46-47 thousand line-kilometer two-dimensional and about 6 thousand square kilometers three-dimensional seismic surveys have been completed on land. Based on these surveys, the success rate of all the wells drilled is 3:1. That is, gas reserves are found from one in every three wells. Although this ratio is 8:1 or 10:1 internationally, the success rate in Bangladesh is much higher. Total production is low because the number of drilled wells is limited. Dr. Bhuiyan said that until now, the Sylhet Trough and the adjacent central foredeep were considered the petroleum hub of Bangladesh. But based on the current success, the area adjacent to the Hatia Trough can be identified as the new petroleum hub. Therefore, attention should be turned to this area in oil and gas exploration.

He gave five directions for energy security, 1. Deep drilling in existing gas fields like Titas and Bibiana to ensure new reserves; identify unexplored layers; bring partially unexplored parts under drilling. 2. Increase drilling in the areas between the fields where full exploration has not been done. 3. Hinge zone: Gas has been proven in Mobarakpur and Jamalpur; therefore, exploration should be increased in the hinge zone along Pabna, Mymensingh and Sylhet. 4. Complex structure: There are 28 areas in Chittagong and the Chittagong Hill Tracts with complex geological formations. There has been insufficient exploration there. The success of neighboring Tripura and the example of gas discovery in Semutang have highlighted the potential in this area. 5. Offshore exploration: Using vintage data (52,000 line-km.) and new seismic data (12,000 line-km.), international companies should be included in competitive tenders. The 2024 tender did not yield the expected results due to political reasons; therefore, a roadshow and new calls are needed.

According to him, if 50 wells are drilled in the next 5 years or 100 wells in 10-15 years, each well will cost an average of Tk 200-250 crore. The total cost of 50 wells will be about Tk 10,000 crore. But if at least 500 BCF of gas is found from one field, its market value will be about Tk 50-55,000 crore.

About 3 TCF of gas has been proven from the ongoing exploration. Another 2 TCF is possible from the next 25-30 wells. There is a possibility of adding about 15 TCF of reserves from an additional 50 wells. According to the success ratio (3:1), at least 5 TCF of gas can be definitely found. Currently, the remaining reserves stand at about 8 TCF.

According to Dr. Bhuiyan, if this gas reserve (about 20 TCF) is ensured, about 1 TCF of gas will be available from domestic sources every year until 2045. In addition, it will be possible to meet the demand through some imports. At this time, renewable energy and alternative energy sources will expand further. This will remove uncertainty in the country's energy sector.

There is no real loss in drilling exploration wells. If gas is found in the well, it can be supplied at an affordable price. This reduces dependence on imported liquefied gas. And even if gas is not found, valuable underground data is obtained, which will be useful in future exploration.