Bangladesh Petroleum Exploration and Production Company Limited (BAPEX) has discovered a new natural gas deposit at an exploration well in Companiganj upazila of Noakhali, with estimated reserves of 97.69 billion cubic feet (BCF) across two separate zones.

The discovery was confirmed on Monday (November 2) through a gas flare test at the Sundalpur South-1 exploration well in Rampur Union of the upazila.

According to BAPEX, the newly discovered well is expected to supply around 15 million cubic feet of gas per day to the national grid after the necessary tests and preparations are completed.

The estimated value of the gas reserves is around Tk 5,809 crore at current consumer-level market prices.

Drilling operations at the well began on July 8 this year using BAPEX’s own Bijoy-10 drilling rig.

The well was drilled to a depth of approximately 3,289 metres, where gas was found in two separate geological zones.

The project was implemented with funding from the government and BAPEX’s own resources, based on findings from a three-dimensional (3D) seismic survey conducted by the state-owned company under the initiative of the Ministry of Power, Energy and Mineral Resources.

Project officials expect that gas extraction from the well could continue for around 20 years.

Mohammad Mozammel Haque, project director of the Sundalpur South-1 exploration well, confirmed the discovery. He said monitoring and Drill Stem Testing (DST) would continue for the next 15 days to determine whether oil or other substances are also present in the well.

The discovery has raised hopes of strengthening Bangladesh’s domestic gas supply amid growing energy demand. Officials expect the well to contribute to the national gas network once the technical assessments and necessary infrastructure preparations are completed.

The latest discovery is expected to create fresh opportunities for energy development and economic activities in Noakhali.