Gazprom, Petrobangla ink energy cooperation MoU

Russian giant Gazprom has signed a memorandum of understanding with Bangladesh state-owned Petrobangla.

The five-year deal on strategic cooperation in the energy sector was signed during Gazprom’s deputy chairman Vitaly Markelov’s visit to Bangladesh.

Gazprom’s interests in Bangladesh are represented by Gazprom EP International, a specialized company for implementing international projects, including those in the areas of hydrocarbon prospecting, exploration and production, as well as power generation and LNG.

In 2012 and 2015, Gazprom EP International and Petrobangla signed the contracts to build exploratory and development wells at a number of gas fields in Bangladesh. In 2017, a contract was signed to construct two prospecting and exploration wells on Bhola Island in the south of Bangladesh.

Since 2012, Gazprom EP International has designed and built 17 appraisal, exploration and development wells at eight fields in Bangladesh. The total flow rate of these wells has reached 7 billion cubic meters of gas per year.