It is initially estimated that the newly discovered well may contain 180-200 billion cubic meters of gas reserves. Upon going into production, 20-22 million cubic meters of gas could be collected from the well.
A total of nine wells of Bhola, including Illisha-1, have found gas in large quantities. Geologists believe that there are possibilities of finding more gas wells in this island district. In the current situation, their detection is extremely important.
Despite having geological potential for new gas resources, only one well is discovered on average every year in the country. This exploration rate is among the lowest in the world for countries with the potential to find gas.
Meanwhile, the state-owned company BAPEX is showing excellent success in oil and gas exploration even with its limited resources and workforce.
But due to wrong energy policy, negligence in gas exploration and weak initiative, full utilization of country’s gas resources is not possible.