The reserves of the Bibiyana gas field are set to be significantly increased. US oil giant Chevron has identified significant potential reserves in a "flank" area outside its existing contract zone north of the field.
State Minister for Power, Energy and Mineral Resources Nasrul Hamid announced at a media briefing on Tuesday that an additional 1.6 TCF of new gas reserves have been found in Bibiyana. This confirmation came shortly after Hamid began his third term as State Minister for the Power and Energy Division.
Chevron gained access to relevant data and conducted a study last year on Bibiyana 27, focusing on reservoir stratigraphy and unconventional reservoir facies. They submitted their report to Petrobangla two weeks ago.
"Yes, the potential of these flank areas is indeed immense...but it hinges on the success of the Bibiyana 27 well," said Chevron senior official Imrul Kabir.
Following their analysis of blocks 1, 2A, 2B, 3A, 3B, 8, 9, 11, 12, 13, and 14, Chevron identified several as potentially promising, either being vacant or unexplored. Based on this data, they have designated these areas as potential zones for further exploration.
Last year, the government approved Chevrons proposal to extend their contract zone by 62 square kilometers in the northern flank of the Bibiyana gas field.
Chevron Bangladesh currently produces around 1481.3 million cubic feet of gas per day (mmcfd) from three gas fields - Bibiyana, Jalalabad, and Moulvibazar - which represents approximately 60 per cent of the countrys total gas production. They also produce over 80 per cent of the total condensate.
Chevron will drill BY-27 in 2023 and subsequently BY-28 in the expanded area of the Bibiyana gas field to explore for new gas and boost the countrys overall natural gas output, as confirmed by a senior Petrobangla official on Monday.
Chevron also signed two additional agreements with Petrobangla on Sunday: the Amendment of Jalalabad Gas and Condensate Purchase & Sales Agreement and the Amendment of Moulavibazar Condensate Purchase & Sales Agreement for Block 13 & 14.
Chevron Bangladesh currently receives around US$2.76 per Mcf for its Bibiyana gas from Petrobangla.
The Bibiyana onshore gas field, located in block 12 of the Habiganj district in Sylhet division, produces around 1,190 mmcfd of gas per day, which accounts for about half of the total output from local gas fields.
As of October 2, the countrys overall natural gas output was approximately 2,664 mmcfd, with local gas fields, including Bibiyana, contributing around 2,284 mmcfd and the remaining 380 mmcfd coming from re-gasified LNG (R-LNG), according to Petrobangla statistics.
Commercial gas supply from Bibiyana began in March 2007 with an initial production capacity of 250 mmcfd after an initial investment of $200 million.
Production was increased to around 900 mmcfd in October 2014 and further to around 1,200 mmcfd in March 2015.
Discovered in 1998, the Bibiyana field was initially estimated to have 2.40 trillion cubic feet (Tcf) of proven recoverable gas. However, subsequent studies and development have confirmed that the field is significantly larger than initially assessed, with the latest estimates from 2015 suggesting reserves of around 7.0 Tcf.
