The government has announced Bhola's Ilisha gas structure as the 29th gas field of the country, believed to have a reserve output of about 200 billion cubic feet of natural gas.
The gas field is expected to produce 20 million metric cubic feet per day (mmcfd) over a lifespan of 25 to 26 years.
This third gas field in Bhola, following Shahbazpur and Bhola North, is projected to increase the country's total reserve to an impressive 2.23 trillion cubic feet (tcf).
Bapex, the state-owned company, has estimated the value of the reserve to be Tk 267 billion, calculated based on the current Liquefied Natural Gas (LNG) tariff.
Responding to queries about the supply of gas to the grid, Hamid stated that the government plans to supply 5mmcfd of Bhola's gas in Compressed Natural Gas (CNG) format within two months.
Moreover, 200mmcfd of Bhola's natural gas is expected to be supplied to the grid within two and a half years, post pipeline installation.
Highlighting the potential of the area, the minister informed that Bapex had discovered the Bhola North Gas near the river basin, raising hopes for further output. He also confirmed that the Ministry of Power, Energy, and Mineral Resources would conduct further exploration to uncover offshore gas in Bhola.
The Ilisha-1 well, drilled by Russian Gazprom and struck gas at a depth of 475 meters, is set to bring significant benefits to the region.
According to the managing director of Bapex, the company has already invited tenders for a process plant for Bhola North-1, Bhola North-2, and Ilisha-1.
Official sources stated that the state-owned Gas Transmission Company Ltd (GTCL) will take approximately two and a half years to construct a 33-kilometer pipeline from the newly declared gas field.
Once completed, the government will be able to supply at least 200mmcfd of gas from the three fields.
The Shahbazpur gas field currently has a processing capacity of 130mmcfd for natural gas. However, gas consumption by various consumers in Bhola is only ranging from 45mmcfd to 47mmcfd, significantly lower than the demand of 80mmcfd.