Gazprom to explore for gas onshore Bangladesh

Russia's Gazprom, the world's largest natural gas company, proposed exploring for gas in Bangladesh's onshore fields to cushion an energy crisis that has slowed the country's economic growth, a senior government official said.
A Gazprom delegation is visiting Bangladesh to conclude negotiations with the government for exploration of oil and gas.

„The firm will invest around $ 200 mm to explore at least 10 wells to increase gas production to meet rising demand,“ said the government's energy secretary, Mohamad Mejbahuddin. He told that the firm had assured the Bangladesh government that it would finish its drilling activities by the middle of 2013. Gazprom also agreed to pay 5 % as a performance guarantee of the total cost.

Bangladesh's state energy firm Petrobangla has a plan to increase natural gas production to 2.2 bn cfpd. At present it produces around 2 bn cfpd against demand of more than 2.5 bn.
Gazprom would become the first foreign company to partner with Petrobangla in oil and gas exploration without a production-sharing contract if its proposal is accepted by the government.