Bangladesh Gas Fields Company Limited (BGFCL) and China鈥檚 CNPC Chuanqing Drilling Engineering Company Limited (CCDC) has signed an agreement to drill two deep exploration gas wells in the Titas and Bakhrabad fields.
The agreement was signed by BGFCL company secretary Md Mozahar Ali and CCDC chief executive officer Li Xiaoming at the boardroom of the Bangladesh Oil, Gas and Mineral Resources Corporation (Petrobangla) at 10:00am on Thursday.
Petrobangla chairman Md Rezanur Rahman attended the ceremony as chief guest.
The event was also attended by representatives from CCDC, directors of Petrobangla, project directors, and managing directors of BGFCL and BAPEX, along with other senior energy officials.
The project involves drilling two deep exploration wells 鈥� Titas-31 deep (5,600 metres) and Bakhrabad-11 deep (4,300 metres) wells.
The initiative is being funded through a combination of a government loan of Tk 558.60 crore and BGFCL鈥檚 own equity of Tk 239.40 crore with an estimated total project cost of Tk聽798 crore.
The project is scheduled for implementation from July 2025 to December 2027.
The decision to drill these wells follows a comprehensive analysis of 3D seismic survey data collected by BAPEX during 2011鈥�2012, later re-evaluated by the China National Petroleum Corporation in 2019鈥�2020.