‘Oil reserves found in Sylhet’

News Desk :
A deposit capable of producing 500-600 barrels of oil per day has been discovered at the Sylhet No. 10 well, along with four layers of reserve fuel, according to State Minister for Power, Energy, and Mineral Resources Nasrul Hamid.

The excavation at the well reached a depth of 2,576 metres, and after testing on Friday, the presence of oil was confirmed at a depth of 1,397-1,445 metres, Hamid said at a media briefing on Sunday, reports bdnews24.com
About 35 barrels of oil were bubbling up per hour at its natural pressure, and further testing will determine the extent of the deposit, he added.

Three gas deposits were also discovered at different depths, with the largest reserve yielding 25 million cubic feet of gas flow at a flowing pressure of 3,250 psi, according to the state minister.

Simultaneous extraction from these layers could be sustained for 8-10 years, generating about Tk 85 billion in reserve fuel. If extracted at a rate of 20 million cubic feet, it could last 15 years.

“Our officials have identified the reserve of petroleum oil at a depth of 1400 metres in the underground. We hope, we can produce 500-600 barrels of oil per day from the new discovery,” Hamid told reports.

The energy state minister also said that in addition to petroleum fuel, a reserve of 43.6-106 billion cubic meter gas was also discovered in the field. The average value of the gas would be about Tk 8500 crore.

The state minister said the gas layers are located at 2460 to 2475 metres, 2540 to 2576 metres and 3300 metres in the underground.

The digging of well no. 10 at the Sylhet Gas Field has been implemented with the financing of Gas Development Fund and Sylhet Gas Fields Limited. An agreement was signed with Sinopec International Petroleum Service Corporation, China on September 11 last year.

Energy and Mineral Resources Division Secretary Nurul Amin and Petrobangla Chairman Janendra Nath Sarkar were present at the press briefing on the oil and gas reserve discovery.