Sylhet Bureau

Oil reserves have been discovered in the first level of Sylhet gas well no-10 in Haripur gas field in Sylhet District.

The reserves will be able to produce 500-600 barrels per day. After testing and re-evaluation, 200-300 billion cubic feet of gas can be found which will be worth about Tk17,000 crore. Initially, the oil reserves stand at 8-10 million barrels, priced at Tk56 per liter, equivalent to Tk7000 crore.

About 35 barrels of oil flow is available per hour right now at its natural pressure, and further testing will determine the extent of the deposit, said the state minister.

State Minister for Power, Energy and Mineral Resources Nasrul Hamid came up with the information at a press conference on Sunday.

The oil reserves could last 15 years.
State Minister Nasrul Hamid said that in total, four layers of reserve fuel have also been discovered.

The excavation at Well No 10 reached a depth of 2,576 metres, and after testing on Friday, the presence of oil was confirmed at the first layer, at a depth of 1,397-1,445 metres, he said. Its initial API gravity is 29.7.

He said: “35 barrels of oil will be extracted from there every hour. As such, it is possible to extract 500-600 barrels of oil per day.”
The oil extraction will generate around Tk8,500 crore.

If oil is produced at a rate of 20 million cubic feet, it will be usable for 15 to 20 years. But it is closed for now. The amount of oil stored at that place will be known for sure after the test. It will take four to five months to complete all the tests, he said.

At the end of last month, the Sylhet Gas fields Authority confirmed the discovery of gas in a new well in Sylhet's Haripur. Oil was found there 14 days after such an announcement.

Meanwhile, the state minister also said that the excavation of Sylhet-10 gas well at a depth of 2,576 metres has been completed. The presence of gas was found in three layers.

At a depth of around 2,540-2,575 metre, around 25 million cubic feet of gas was also discovered during a test, said the state minister. The pressure there stands at 3,500 PSI.

Gas reserves range from 43 to 100 billion cubic feet.

Another gas layer also is found at a depth of 2,460 to 2,475 metres from which 25 to 30 million cubic feet of gas will be extracted. On the other hand, he confirmed that the presence of gas was also found at a depth of 2,290 to 2,310 metres.

Sylhet Gas Fields Limited (SGFL) Company started drilling two months ago in this exploration well located in Bagher Road area of Alirgao Union of Gowainghat Upazila, next to Tamabil-Jaflong highway in Sylhet.

Earlier, Prime Minister Sheikh Hasina officially inaugurated the well on November 14.

It's known that in 1986 oil was found in the Haripur area. But the durability of the well was five years.