Monday, 4 July, 2022

Gazprom EP International Contributing to Bangladesh’s Energy Security

Gazprom EP International Contributing to Bangladesh’s Energy Security

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Gazprom EP International is the operator of the overseas projects of PJSC Gazprom in search, exploration and development of hydrocarbons fields. The company has presence in 10 countries on three continents and participates in the implementation of around 20 various-scaled projects.

Gazprom EP International has been working in the territory of Bangladesh since 2012, with Bangladesh Petroleum Exploration and Production Company Limited (BAPEX) being its major partner here.

Between 2012 and 2017, Gazprom EP International constructed 17 exploration and operational wells at eight gas fields with the total tunneling of 50,000 meters. Competent designing and optimization of technologies allowed to complete works in the shortest possible time as well as to add more than 10% to the national gas extraction.

Drilling carried out by Gazprom EP International confirmed the significant hydrocarbon potential of Bhola Island. The year 2018 brought the discovery of the North Bhola field, 35 km away from Shahbazpur field. In view of Bangladesh’s urgent demand for energy resources, its government decided to continue the geological survey of Bhola Island and its adjacent territories, as well as to begin active development of Shahbazpur and North Bhola fields. Gazprom EP International offered to assist in this initiative. As a result, on January 28, 2020, Gazprom EP International and BAPEX signed a Memorandum of Understanding for the appraisal of Bhola fields. The Parties agreed to estimate the potential of the existing fields and prospective areas of Bhola Island in order to substantiate future exploration, exploitation and production of hydrocarbons. Now the Russian Side is studying a vast array of up-to-date data, provided by the colleagues from BAPEX. The next step will be the development of a prospecting and exploration strategy, as well as a preliminary estimation of investments required for the project.

In July 2021, Gazprom EP International and BAPEX signed an additional agreement for the construction of three new wells on Bhola island: exploration wells Tabgi-1, Illisha-1 and an appraisal well North Bhola-2. According to the technical specification, the depth of each well will be about 3500 meters. The project has already been launched: preparatory works, drilling machine examination and site preparation are currently underway.

The interests of Gazprom EP International are not limited to the above-mentioned projects. The company is considering the possibilities of expanding its presence and the range of services in Bangladesh. Gazprom EP International is interested in increasing cooperation with local state-owned companies to jointly contribute to the sustainable development of Bangladesh’s energy sector.