The Ilisha-1 well located in Bhola district has officially been designated as Bangladesh’s 29th gas field, according to State Minister for Power, Energy, and Mineral Resources. The announcement was made from the minister’s residence in Dhaka. Initial estimates suggest the presence of a gas reserve of around 200 billion cubic feet in the newly discovered field. The projected gas production capacity is expected to reach 20 million cubic feet per day, with a collection span of 26-30 years.
The market value of the gas stored in the Ilisha-1 field is estimated to be Tk 6,500 crore. Furthermore, when considering the price of imported liquefied natural gas (LNG), the value rises to Tk 25,000 crore. Excavation operations for the Ilisha-1 field commenced on March 9 and concluded on April 14 2023. This development represents a significant addition to Bangladesh’s gas resources and holds promising prospects for the country’s energy sector.