Exploring onshore resources
Besides considering
invited expressions of interest and requests from foreign reputable IOCs we want the BAPEX
to come out of its closed foxhole and thrive
forward to become
self-reliant
The state-owned Bangladesh Petroleum Exploration and Production Co. Ltd, BAPEXs bid to explore onshore oil and gas prospects by signing a joint venture scheme came swiftly as the High Court (HC) disposed of a stay order on allowing International Oil Companies to explore onshore gas blocks. It isnt a secret that in terms of offshore explorations BAPEX has been continuously falling short of advanced technology and skilled technicians but is it also the same when it comes to exploring our onshore natural resources? It is somewhat confusing when the BAPEX chief, in order to rationalise joint venture schemes said, Bangladesh - BAPEX for that matter, does not have the funds or technical capacity to explore in the complex geological structures of the Chittagong Hill Tracts.(CHT)
Signing of joint ventures for exploring hydrocarbon minerals is crucial when a country lacks the required capabilities within, but what if a state-owned company after more than twenty-five years of existence repeatedly fails to grow in its professional and mechanical capacities? More specifically, we want to know - what is BAPEX capable of and what are its strengths?
It has been well over four decades and we are still dependent on International Oil Companies for exploring our own natural resources both onshore and offshore but the scenario should have been different , if only , the state-owned company focused more to build its internal strengths, sincerely trained its staffs , engineers and experts , transfer knowledge and imported the appropriate technology. Reflect back to our next door neighbour India s Oil and Natural Gas Corporation Limited (ONGC), within twenty years since its inception it was exploring the offshore resources with its own capacities. Its subsequent discoveries of huge oil and gas fields in Indias western offshore changed the entire oil scenario of that country. And within another five years its self-reliance and development of core competence in EP activities had reached global competitive levels. As an ambitious state-owned company today it has more operations globally than at home.
However, according to our experts, initial estimations suggest that there are huge potentials in the CHT areas. Also the most prominent of them has also opined that there isnt actually a viable point going for a JV with IOCs to explore in those regions and BAPEX actually has enough expertise to drill around those geological formations. Here we mark a stark contradiction about BAPEX s capabilities.
Besides considering invited expressions of interest and requests from foreign reputable IOCs we want the BAPEX to come out of its closed foxhole and thrive forward to become self-reliant. By now it should have realised that. By continually teaming up with foreign OIC s it had not only sparked frequent public outrages but, also at times, had even compromised with the nations mineral resources. However, OICs are not going to be there for BAPEX so it should learn to handle explorations by its own - ending on that note.
