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Bangladesh Petroleum Exploration and Production Company Limited (BAPEX) discovered a new natural gas field in the southern district of Bhola.
Cabinet Secretary Mohammad Shafiul Alam revealed the information while addressing the media in Dhaka on Monday. "The reserves are estimated at 700 billion cubic feet," he said.
Alam said the cabinet was informed about the discovery during its weekly meeting on Monday.
Meanwhile, BAPEX said the new gas field is located 3.5km east of Shahbazpur, location of another gas field in Bhola district.
BAPEX Managing Director Md Nowshad Islam told a local media that the existence of natural gas was found a few days ago. "After further scrutiny, it was confirmed today," he said.
Talking about size of reserves in the new field, he said, "In recent times, a gas field like this has not been discovered. We can confirm the amount of reserves after further scrutiny."
The existing Shahbazpur gas field produces around 35 million cubic feet each day, according to BAPEX. The reserves of this field are estimated at 35 billion cubic feet.