Petrobangla comes under JS body fire

Top officials of Petrobangla yesterday came under fire at a meeting of a parliamentary standing committee for go-slow policy in extracting gas as well as 'incorrect and misleading statistics' on production and reservation of gas.
The parliamentary standing committee on Estimates also asked the government to reorganise the board of directors of Petrobangla and eleven gas and distribution companies immediately with what it said "efficient, experienced, honest and patriotic persons."
The meeting also observed that Petrobangla and Bapex have turned into 'inefficient organisations depending on massive bureaucracy.'
The committee members, including its chief rejected Petrobangla's method of measuring gas reserve, as it did not follow international standard.
Committee chief HN Ashequr Rahman on behalf of its members placed a 21-point recommendation before the meeting to increase gas and coal production.
Main problem is lack of proper management in gas production, not gas, coal or money crisis, he said.
"Petrobangla should enhance gas production from the existing wells and suspended wells should be brought under production without delay," the committee chairman said in the recommendation.
The committee also recommended that product sharing contract activities should be monitored more effectively while international oil companies must fulfil their minimum work obligation on schedules.
On the issue of money crisis, the committee said Petrobangla or some such authorities may consider floating local companies on power and gas with seed capital and issue shares for sale to the public with guaranteed minimum dividend.
The committee members rejected the statistics of Petrobangla and energy ministry which revealed that out of 6.92 trillion cubic feet of gas reserve (proven), Bangladesh shares 3.998 trillion cubic feet while international oil companies 2.911 trillion cubic feet of gas.
Though the Petrobangla officials are telling that Bangladesh is in gas and coal crisis but the fact is that it has now an useable amount of gas, said the chairman.