American oil and gas company Chevron has started drilling a new well in Bibiyana gas field under block 12 in Habiganj district of Sylhet division to continue its present production trend in the future.
Chevron, one of the international oil and gas companies working in Bangladesh since 1995, aims to drill two more wells in Bibiyana gas field if their latest well drilling project becomes successful, said officials of the Bangladesh Oil, Gas and Mineral Resource Corporation (Petrobangla).
Shaikh Jahidur Rahman, communications manager of Chevron Bangladesh, said, "Well drilling programme in Bibiyana-27 is a crucial project for ensuring energy security in Bangladesh for the long term. It could result in an overall increase in natural gas production for Bangladesh."
Currently, out of the country's demand for 2,901 million cubic feet of gas per day, Bibiyana produces around 1,100 million cubic feet from its 26 operational wells.
Rest of the required amount of gas comes from 19 other gas fields and two floating storage and regasification units (FSRUs) in the country.
The Energy and Mineral Resource Division, however, is concerned about the volume of production at Bibiyana gas field in the future as its reserve has reportedly decreased, said sources.
As of March 2023, around 5,501.3 billion cubic feet of gas has been extracted from the Bibiyana field's 5,755.4 billion cubic feet reserve, according to the Hydrocarbon Unit's data.
According to that data, only 254.1 billion cubic feet of gas remains in Bibiyana, which would be depleted within a few months if gas production at the field continues at the current rate.
Chevron, however, claims that the field's reserve is much larger than the initial estimation, though they did not disclose the figure of the remaining reserve in the field.
Meanwhile, drilling a new well in the Bibiyana field is raising hope for Petrobangla, the state owned corporation responsible for gas exploration, production and import.
Md Shaheenur Islam, director (production sharing contract) of Petrobangla, told The Business Standard that 1,500 billion cubic feet more gas can be found in the new well.
Energy expert and senior geologist Professor Dr Badrul Imam said discovery of new reserves in this well would help the country avoid a possible production collapse after 2026 due to depletion of natural resources in Bibiyana.