Amid deepening energy crisis in the country, the interim government is planning to intensify hydrocarbon-exploration campaign in a major policy shift to deploy the lone local company to conduct the exploration activities.
State-owned Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) prefers its subsidiary Bangladesh Petroleum Exploration and Production Company Limited (BAPEX) to utilize its expertise and invest domestic resources in the job.
To achieve its target, Petrobangla has sought a budgetary allocation of Tk 133.28 billion for the next four fiscal years from the Ministry of Finance (MoF), officials said recently.
They said the funds would be spent on conducting surveys, exploration and production activities in the prospective wells.
Petrobangla has decided to explore 100 wells in FYs 2025-29, aiming to enhance gas exploration and production by 1,475 million cubic feet per day (MMCFD), officials said.
