BGFCL holds its 67th AGM

Business Desk :
The 67th Annual General Meeting of Bangladesh Gas Fields Company Limited (BGFCL) held on Saturday in a hotel in the capital. Mahbub Hossain, Chairman of BGFCL Board the company and Senior Secretary of Energy & Mineral Resources Division presided over the meeting. As BGFCL’s shareholder Nazmul Ahsan, Chairman of Petrobangla & other directors of Petrobangla and directors of BGFCL Board attended the meeting.  
BGFCL is a state-owned and the largest natural gas producing company of Petrobangla. BGFCL produces country’s natural gas and supplies to national grid, said a press release.
The BGFCL is originated from the Shell Oil Company that was established on 30 May 1956. Bangabandhu Sheikh Mujibur Rahman purchased 5 gas fields- Titas, Habiganj, Bakhrabad, Rashidpur and Kailastila from the then Shell Oil company at a nominal price on 9th August 1975.
Soon after that, the Shell Oil Company was renamed as ‘Bangladesh Gas Fields Company Limited (BGFCL)’ on 12th September 1975. Out of those 5 gas fields, Titas, Habiganj & Bakhrabad along with 3 others totaling 6 gas fields are being operated by BGFCL.
Out of 6 gas fields of BGFCL, currently 5 fields except Kamta are in production. During the financial year 2021-2022, at an average production of 619 million cubic feet per day was supplied from 40 producing wells of BGFCL, which is about 26% of country’s total gas production and about 73% of the production of state-owned companies. Besides, condensate, produced at an average production of 552 bbl per day as a by-product, is being delivered to a private fractionation plant as per Govt. allotment.
During the financial year 2020-2021, the company earned a pre-tax profit of Tk. 47.82 crore after deducting total operating expenses from total revenue income. Besides, the company paid a total of Tk 888.53 crore to the government exchequer towards income tax, dividend and DSL.
To meet up growing gas demand of the country, the company proposed 3 projects on Drilling of 4 nos well & workover of 7 nos well at Titas, Habiganj, Bakhrabad, Meghna & Kamta fields, 3-D seismic survey at Habiganj, Bakhrabad & Meghna fields and exploration of 1 no well (deep well) at Titas field. DPP approval of these projects is currently under process.