Westerners have put us into the danger: PM’s energy advisor

[Rushd Alam]

Norway has huge sovereign wealth fund.

They can afford the risk.

Risk to reward ratio is very high for Bangladesh, based on past experience. And if you talk about cost it costs 10 to 30) million for each exploration well. And one lng terminal costs 500 million.

We are reluctant to build a pipeline from Vhola to mainland??? Because of cost? No one is a fool. Companies like Summit are making billions out of LNG, where in Bhola we only exploring 1/4th of its capacity.

Hasina needs to fire some people soon or she will be in trouble because of the blood suckers.

 

[Rushd Alam]

So, the present price hike of oil and power is because of BAL govt's inactivity on gas exploration in the BoB. Our people want international companies to explore and invest hundreds of millions of dollars only to see they cannot export because our govt wants them not to.

If we believe in the capitalist system, we must follow the capitalist rules. We should not expect multinationals to invest but cannot take back their profits.

I have not heard of any oil /gas exploration bidding for the last few years. No wonder. Because the oil companies are not willing to grease the palms of Hasina Bibi and her cronies.

We are not even letting foreign companies explore gas because LNG is big money for some specific importers. They will make nothing is we dont import LNG. Last 20 years we only dug 23 exploration well.

We recently dug one in koilash tila and got 0.6 tcf. Only because there were criticisms. If you do not see why and what is hapenning you are just turning a blind eye.

In 26 blocks off shore we didnt even let a survey to be done. This is beyond acceptable. Multi client survey doesnt event cost money as the companies sell the data to potential explorers.

 

[bluesky]

Aziz Khan said foreign oil companies will not be interested to invest in gas exploration until they have been given the option for gas export.

He said many local companies could be interested to invest in exploration if there is change in the policy.

So, the present price hike of oil and power is because of BAL govt's inactivity on gas exploration in the BoB. Our people want international companies to explore and invest hundreds of millions of dollars only to see they cannot export because our govt wants them not to.

If we believe in the capitalist system, we must follow the capitalist rules. We should not expect multinationals to invest but cannot take back their profits.

I have not heard of any oil /gas exploration bidding for the last few years. No wonder. Because the oil companies are not willing to grease the palms of Hasina Bibi and her cronies.

We are not even letting foreign companies explore gas because LNG is big money for some specific importers. They will make nothing is we dont import LNG. Last 20 years we only dug 23 exploration well.

We recently dug one in koilash tila and got 0.6 tcf. Only because there were criticisms. If you do not see why and what is hapenning you are just turning a blind eye.

In 26 blocks off shore we didnt even let a survey to be done. This is beyond acceptable. Multi client survey doesnt event cost money as the companies sell the data to potential explorers.

I agree that very few exploration works were done during the last 10 years or more. But, I don&t believe our local companies are able to explore the fields. In reality, there is only one local company BAPEX who sometimes pretends to do something in areas where gas has been almost exhausted and then declares new findings.

It is all under the guidance of Hasina Bibi who and her colleagues just do not want to explore our gas. And the reason is what you have stated that local gas money can be less stolen than foreign imported gas.

But, their long-term policy has now backfired and now they are unable to import gas because of heavy competition with the Western rich countries.

 

[Bilal9]

Risk to reward ratio is very high for Bangladesh, based on past experience. And if you talk about cost it costs 10 to 30) million for each exploration well. And one lng terminal costs 500 million.

We are reluctant to build a pipeline from Vhola to mainland??? Because of cost? No one is a fool. Companies like Summit are making billions out of LNG, where in Bhola we only exploring 1/4th of its capacity.

Hasina needs to fire some people soon or she will be in trouble because of the blood suckers.

She gets paid off from Summit folks.

I know these people well.