Rashidpur Well Restart Raises Gas Valuation to Tk 4,700 Crore

Rashidpur gas field in Habiganj is poised to restart supply from a previously shut-in well, with an expected daily production of 10 million cubic feet of gas. Over the next decade, the well is projected to deliver about 25.55 billion cubic feet of gas, valued at roughly Tk 4,700 crore. The refreshment and revitalization of the well are estimated to cost Tk 73 crore.

Confirming the development, Rashidpur Gas Field’s Deputy General Manager (Maintenance), Md Shahidullah, said, “The prospect of sustaining 8 to 10 million cubic feet of gas daily from this well is very encouraging. The major advantage is that the existing pipeline and processing plant are already in place, and there are no additional complications regarding extraction and supply.”

According to Petrobangla, the number 3 well at Rashidpur—once active but later shut down—has now been revived. During a workover operation on September 5, Bapex confirmed the presence of natural gas. The well, which had previously supplied gas, was closed after depletion. Experts estimate that it will produce 25.55 billion cubic feet of gas over the next ten years. Based on the current LNG import price of Tk 65 per cubic meter, the extracted gas is valued at Tk 4,700 crore. In addition, condensate, a valuable by-product of natural gas, will also be recovered from the well.

Sylhet Gas Fields Limited has launched a major development programme across its gas fields. Alongside Rashidpur-3, drilling projects are underway at Rashidpur wells 11 and 13. If successful, these initiatives are expected to substantially boost domestic gas production.

Gas supply from well number 3 had been steady since 1994 until it was shut down last year. After further exploration revealed a large gas-bearing layer, work to revive the well began.