BGFCL profit hits Tk203 crore in FY20
Following the successful completion of workover project, gas is being extracted from five wells – Habiganj-1, Bakhrabad-1, Titus-6, 9 and Narsingdi-1
Bangladesh Gas Field Company Limited (BGFCL) earned Tk1,267.59 crore in the Fiscal Year 2019-2020 while its profit hit Tk203.98 crore.
At the same time, the company incurred operating expenses of Tk1,063.61crore.
A press release issued by the government-owned company on Sunday disclosed these financials.
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The 65th Annual General Meeting of the gas field company was also virtually held yesterday afternoon.
BGFCL Board of Directors Chairman Md Anisur Rahman, senior secretary, Department of Energy and Mineral Resources, chaired the event, which was attended by shareholders, directors, and senior officials.
Of the 6 gas fields under BGFCL, 5 are currently in production.
In the last financial year, 2,48,598.951 million cubic feet of gas was supplied from 44 wells via the national transmission pipeline to Petrobangla's gas distribution companies, at an average daily rate of 681 million cubic feet.
In addition, 1,72,283 barrels of condensate have been produced from the company's own wells.
Under the BGFCL development project, workover of 7 wells and installation of wellhead compressors are underway at A and C at Titas Gas Field, and also at Narsingdi Gas Field.
Following the successful completion of workover project, gas is being extracted from five wells – Habiganj-1, Bakhrabad-1, Titus-6, 9 and Narsingdi-1.
Workover project for Titas-7 well started in September last year, while Titas-13 well will also come under the project shortly.
The installation of gas compressors at Titas Location C and at Narsingdi Field is 95% complete.
On 5 November last year, an agreement was signed with the contractor to install a wellhead compressor at Titus Location A.
