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’Big* gas reserve found in Bay

By Sharier Khan
A very big' gas reserve has been found in the Bay of Bengal. Petrobangla sources
Calm Energy Plc of Scotland and Holland Sea Search of the Netherlands have struck a "very big" gas re-.serve from an exploratory well "Sangu-1" in the Bay of Bengal on Kutubdla island last week.
The reserve may turn out to be between 2 and 3 trillion cubic feet but the actual quantity will be confirmed after completion of the appraisal well within a month." the sources added.
The Anglo-Dutch Joint venture company began drilling the Sangu-1 well in
from Chittagong port in De-oeniber 15 last.
Last week. Calm Plc an nounced the discovery of a "very big reserve" in the International Stock Market in London. UK, the sources pointed out adding, the official announcement will be made within a month.
As per the original plan, the companies were supposed to drill two exploratory wells but since gas reserves in five zones of the Sangu-1 were confirmed after testing by a British expert, the second well will be an appraisal well instead of an exploratory one. the sources noted. The depth of the Sangu-1 well exceeded 4000 meters.
Petrobangla experts are optimistic about striking
more discoveries in the same area.
Following the formal announcement of the discovery. Cairn will give Petrobangla a bonus of one million US dollars as per the Production sharing agreement. In turn. Petrobangla will also award Its employees a bonus as per tradition, the sources noted.
The drilling was conducted by both the foreign and local experts from the Petroleum Concession Divi sion of the Petrobangla.
With this discovery, the country’s total reserve may exceed 13 trillion cubic feet and more gas-based power plants can be set up.
The two foreign companies are the first foreign companies in Bangladesh to strike a gas field since the mid-1970s.
In May 1994. after two years of negotiations with the government. Cairn together with Holland Sea Search Bangladesh BV were the first foreign companies to be awarded a Production Sharing Contract (PSC) on block 16 — covering a 881 square kilometres area in the Bay of Bengal
The Joint venture company has signed, another PSC for block 15 — covering the Chittagong Hill Tracts. Si-takunda and Sandwlp region and is conducting a survey there for hydrocarbon reserves.