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 stable energy price & 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.
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| Gas discovery in Offshore |
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...
From a broader energy economics standpoint, your point on increasing domestic hydrocarbon production as a mechanism to stabilize energy prices is very compelling. As global oil and gas markets remain volatile and price-sensitive, strengthening local supply can play a crucial role in ensuring energy security and affordability. Especially appreciate the practical perspective on fast-tracking exploration through experienced operators and leveraging previously conducted seismic data, which could significantly reduce lead time compared to conventional PSC tender cycles.
ReplyDeleteThank you very much. Government and respective authority might give attention to this write up and comments. Only right people and right decision may help this Nation to get rid off energy crisis by exploring & producing from own available assets.
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