The government is likely to allocate Tk 1,018 crore for Energy and Mineral Resources Ministry for exploration of gas and oil fields and development of existing gas distribution pipeline to provide better services to clients.

It will be a component of the annual development programme (ADP) for next fiscal.

The allocation will be Tk 228.97 crore higher than that of the ongoing ADP budget.

Pakistan has urged Iraqi oil and gas exploration companies to enter into joint ventures with Pakistan Petroleum Limited (PPL) and the Oil and Gas Development Company Limited (OGDCL) to explore oil and gas reserves in this country.

Mukesh Ambani

Amid concerns of the economic slowdown, the government today launched the eighth round of New Exploration Licensing Policy (Nelp-VIII) offering 70 blocks, the highest so far. The government is also offering 10 blocks under the fourth round of coal-bed methane (CBM-IV) exploration policy for exploration of gas.

AGARTALA

Apache Corp., the US oil and gas company operating on five continents, and Santos plan to build an $800 million natural gas project in Western Australia to benefit from rising prices for the fuel. The partners have approved the Devil Creek project, which will tap gas from the offshore Reindeer field for supply to customers in Western Australia, Tim Wall, managing director of Apache's Australian unit, said in an interview. The project may start up in 2010, Apache says on a Web site on the project.

The proposed gas allocation policy, which will override the government's commitment to allow sale and purchase of gas on the basis of market diktats, has cast a shadow over the country's emerging

Have gas, will explore' seems to be the mantra as India's $90 billion oil and gas industry gears up for the July round of talks with Iran on the $7.4 billion Iran-Pakistan-India (IPI) gas pipeline project.

Recurring gas field blowouts in Bangladesh