2024-07-05 09:35:38
A Chinese company is getting the work of drilling a development well and an exploration well in the Sylhet gas field. The Cabinet Committee on Government Procurement has approved the proposal to import one cargo of liquefied natural gas (LNG) along with this proposal. The total cost will be 1 thousand 54 crore 13 lakh 44 thousand 893 taka.
The proposals were approved in the first meeting of the new fiscal year on Wednesday (July 3) and the 17th meeting of 2024. Finance Minister Abul Hasan Mahmud Ali presided over the meeting, committee members, senior secretaries of the cabinet department, secretaries of related ministries and senior officials were present. At the end of the meeting, the Secretary of Coordination and Reforms of the Cabinet Department highlighted the various aspects of the approved proposals. Mahmudul Hossain Khan.
The secretary said that the committee has approved the purchase proposal for implementation of Sylhet-11 (development well) and Rashidpur-13 well (exploration well). Sinopac International Petroleum Service Corporation of China is requested to submit a proposal by Sylhet Gas Field Limited for implementation of two well drilling activities under the ‘Expedited Supply of Electricity and Energy (Special Provisions) Act-2010’ (with amendments of 2021). Later, the company submitted technical and financial proposals. At the end of the proposal process, the Bid Processing Committee negotiates with the recommended bidders. The total cost of the project will be 444 crore 85 lakh 79 thousand 893 taka. The project was approved by the Prime Minister as Minister of Energy and Mineral Resources. The project duration is from January 1, 2024 to June 30, 2026. If the two wells are successfully drilled, it will be possible to extract 20 million cubic feet of gas per day for the first 5 years and 16 million cubic feet per day for the next 5 years. The amount of gas produced in 10 years will be 65.7 BCF, the total value of which will be 4 thousand 545 crores.
He informed that the Cabinet Committee on Public Procurement has given tentative approval for the import of LNG from the spot market (22nd of 2024) under the ‘Expedited Supply of Electricity and Energy (Special Provisions) (Amendment) Act-2021’. With the approval of the Cabinet Committee on Economic Affairs (CCEA) meeting, the MSPA agreement was finalized with 23 companies shortlisted for LNG purchase from the spot market. Two companies submitted bids when Petrobangla invited bids from 23 companies for supply of 1 cargo of LNG. Both proposals are technically and financially responsive. M/s Accelerate Energy LP, the lowest bidder of USA, will supply these LNG in view of the recommendation of the Proposal Processing Committee (PPC) at the end of the tender process. The total cost will be 609 crores 27 lakhs 65 thousand 897 US dollars per MMBTU at 13.5580 USD. The proposal has the in-principle approval of the Prime Minister as Minister of the Ministry.