The state-run energy explorer has prepared an operating procedure from hydrocarbon exploration to production aiming to develop a new methodology for striking fossil fuel.
The procedure details the required job for any explorer to carry out seismic surveys, drill wells and find hydrocarbon reserves.
"It will be a sort of guideline for carrying out oil and gas exploration in a planned way," energy secretary Abu Hena Md Rahmatul Muneem told the FE.
An advanced and standard exploration procedure will be developed after carrying out further scrutiny, said Mr Muneem, who had played a pivotal role in preparing it.
The Bangladesh Petroleum Exploration and Production Company Ltd (Bapex) is expected to follow the procedure for exploring oil and gas in future. It will also be followed by others too.
Officials said Bapex has chalked out a mega programme to boost hydrocarbon discovery, using the latest technology.
It has mulled over carrying out action plans under its short, medium and long-term strategy to lift existing natural gas and carry out work to delineate new hydrocarbon reserves for meeting future demand.
The country's lone oil and gas exploration firm has planned to apply new unconventional method for the first time to enhance the country's overall natural gas and ensure smooth supply of natural gas to consumers.
It has also planned to drill new exploratory wells, develop wells and carry out work on old gas wells as part of its work plan until 2041.
Besides, Bapex will upgrade existing rigs and purchase new ones to accelerate the pace of well drilling.
The agency has divided its overall plan into three phases: short-term from 2019 through 2021, medium-term between 2022 and 2030 and long-term in 10 years through 2041.
Bangladesh's graduation to a developed nation by 2041 coincides with Bapex's mega plan.
Finding new hydrocarbon reserves as well as boosting existing gas output and adopting some unconventional methods such as horizontal drilling, mechanical and chemical fracturing are the key, said a senior Bapex official.
Developing skilled manpower and introducing state-of-the-art technology in exploration is also the target, he added.
Bapex is considering drilling some three dozens of exploratory wells, two dozens of development wells and carrying out work-over of old wells.
In addition, it has planned to carry out some 20,000 kilometres of 2D, or two dimensional seismic survey, 4,000 square kilometres of 3D survey and geological survey in an area of 2,000 kilometres by 2041.