The Energy and Mineral Resources Division has sought Tk 22.25 billion from the government for the next fiscal year to boost gas and oil production, conduct seismic surveys, and explore mineral resources.

Energy Division Secretary Mohammad Saiful Islam outlined the financial requirements in a letter to Finance Secretary Dr Md Khairuzzaman Mozumder. The Finance Division is currently evaluating the request, and officials warn that securing additional development funds will be difficult due to budget constraints.

The proposed budget for the 2025-26 fiscal year includes Tk 3.0 billion for the Eastern Refinery Limited (ERL) Unit-2, Tk 2.0 billion for the Bhola-Barishal-Khulna gas pipeline, and Tk 1.0 billion for drilling wells in Bhola. Additionally, Tk 2.0 billion is requested for 3D seismic surveys in Charfesson, Monpura, and Hatia, while Tk 6.0 billion is allocated for procuring a new rig.

The government has already approved four energy projects under the Executive Committee of the National Economic Council (ECNEC) for 2024-25, including a gas processing plant with a 60 MMSCFD capacity, 2D seismic surveys, and well drilling at Rashidpur, Dupitila, and Kailashtila.

Meanwhile, two additional projects, including 3D seismic surveys in Habiganj, Bakhrabad, and Meghna and well drilling in Titas and Bakhrabad, are awaiting ECNEC approval and require Tk 3.25 billion.

Officials say budget constraints may make funding these critical projects, which aim to bolster the country’s energy sector, challenging.