BAPEX is a state-owned oil and gas exploration and production company. Various initiatives have been taken in the past to increase the company’s capacity to raise gas production locally.
These initiatives are continuing during the current interim government. Despite that, there is no significant progress in the company’s gas supply to the national grid. On the contrary, gas supply is decreasing.
Currently, BAPEX’S gas supply has decreased by more than 33 percent. Although this company has a total of ten gas fields, eight of which are in production.
The remaining two companies that are engaged in oil and gas exploration and extraction have a smaller number of gas fields, but their production is at a stable level. However, the interim government has not been able to change the past picture much.
The interim government’s promises were to modernize BAPEX, increase investment, and speed up well drilling.
But there has been no significant progress in increasing production through drilling new wells or renovating old wells. But BAPEX has not been able to implement any of these works.
It does not have the technical expertise and technology required to carry out these works.
The reality is that the amount of investment that has been made has not been properly utilized.
According to energy experts, drilling wells, traditional investments and BAPEX’s work to increase production capacity has been limited to rig modernization and procurement.
But the most important thing was to emphasize increasing the company’s technical expertise, technological capabilities, and investment.
Even those concerned say that one of the reasons behind BAPEX’S failure to increase its own gas production is that the company is also busy drilling wells for other companies.
It is true that the gas extracted from BAPEX’s two gas fields cannot be connected to the national grid due to infrastructural complications. On the contrary, the country has been made dependent on energy imports.
Costly LNG imports are being made. Petrobangla has said that 58,000 crore taka will be spent on LNG imports in the current fiscal year. This means that the country is stuck in the vortex of energy imports.
As a long-term measure, well drilling and initiatives must be taken to ensure the use of modern technology in maintenance and gas extraction. Investments must be made in this regard.
Above all, it is necessary to eliminate the management weaknesses of the organization.
We believe without professional leadership and experienced management; an organization can never achieve its goals.
BAPEX’s capacity to meet the demand for locally produced fuel needs to be increased.
The country’s industrial development, electricity production, and future energy security depend on this.
