Summary:

Russian energy giant Gazprom has obtained a contract by Bapex to drill three more wells at Bhola Island with a total cost of $77.18 million which is BDT 6.48bn

Content:

Russian energy giant Gazprom has obtained an NOA to carry out the drilling of three more onshore gas wells at Bhola Island meaning they are officially notified by the employer notifying the contractor that their bid had been accepted.

This Russian farm is not new to Bangladesh. It has already built a total of 17 onshore wells in different parts of the country since 2012. Now they got the contract to drill three more wells by the cabinet committee on public purchase in earlier May.

Gazprom has been selected for this work under the Speedy Supply of Power and Energy (Special Provision) Act 2010. The law has a provision of immunity to those involved with a quick fix. The firm has obtained the contract to drill – Tabgi-01, Bhola North-02 and Illisha-01 at a total cost of $ 77.18 million which is Tk 6.48 billion if converted.

The drilling cost is around 56 percent higher than before, said to the sources. Meanwhile, energy experts have expressed their dissatisfaction as the cost is unjustified to them as the international oil companies do not have much work at hand.

There is a fear that it can raise the overall cost and slow down the industrialization process. It is also alleged by Prof M Shamsul Alam that it is a massive theft and a vested quarter is involved in pocketing big money.

There is also a saying that it was not the right decision by Bapex as the reputed Gazprom has also had a bad track record in drilling. Some drilling was found faulty which later needed to be developed by Bapex as mentioned by the geologist of Dhaka University.

Picture and Article Source:  The Financial Express