Petroleum Exploration and Energy Price for Sustainable Development

             Petroleum Exploration and Energy Price for Sustainable Development:

Exploration for oil and gas in offshore will be the best way for sustainable development in Bangladesh. Bangladesh is now in huge shortage of petroleum and losing big amount of foreign currency only for importing petroleum products and Middle East war is also fingering to necessity of petroleum exploration. 

Offshore with water depth

It may need to give priority of discovery in offshore by choosing a company  like ConocoPhillips as they have done seismic survey in offshore blocks  close to Myanmar and was interested to drill further in those blocks  (unfortunately not drilled) means ensuring the presence of hydrocarbon in  that area. In Myanmar part they are producing gas and exporting to China  from those gas field whereas we are out of decision of drilling in our blocks. 

Close to boundary line with Myanmar an American Company will be best  choice for exploration. If Bangladesh recall ConocoPhillips to drill over  there by G-to-G contract, they will be able to discover hydrocarbon within  very short time (4-6 months) as they have already done predrilling works  which normally takes around three (3) years under PSC contract of new  tender.

Before invitation of new tender for offshore blocks, at first should give priority on discovery in offshore otherwise IOC will not be interested to participate like the previous tender (no one IOC attended in that tendering procedure). 

Besides, PetroBangla may decide to drill in Kutubdia (very prospective) and Chattak East (a ready drilling pad by Niko) and drill more wells by batch drilling in Bhola. It may help to cover the shortage of hydrocarbon in Bangladesh as well as will help to control energy price and keep active the development cycle...