BGFCL derives its origin from Pakistan Shell Oil Company on May 30, 1956. With emergence of Bangladesh and promulgation of Petroleum Act 1974, the Government of Bangladesh (GOB) bought all the shares of the Pakistan Shell Oil Company with effect from August 09, 1975. The Company was renamed as Bangladesh Gas Fields Company Ltd. (BGFCL) on September 12, 1975. BGFCL is a corporate body registered under Company Act, 1913 (revised in 1994) of Bangladesh Oil, Gas & Mineral Corporation (Petrobangla) under the Ministry of Power, Energy & Mineral Resources. It owns 6 gas fields namely Titas, Habigangj, Bakhrabad, Narsingdi, Meghna and Kamta Gas Field.
- To operate gas fields, to separate condensate & water and to supply dry natural gas to the transmission and marketing companies.
- To process condensate into finished products for marketing.
- To develop gas fields by drilling development wells and undertake work over of existing wells as and when necessary.
- To install, operate and maintain gas processing plants, fractionation plants, auxiliary facilities etc. of gas fields.
- Data and information management on oil and gas sector.
- To undertake any other responsibility relating to natural gas and recovered hydrocarbon as may be assigned from time to time by the Corporation.
An additional quantity of 80-85 MMSCF of gas is being supplied to the national grid from newly drilled wells of Titas Gas Field and Narsingdi Gas Field. Furthermore, 3 new appraisal-cum-development wells -2 wells at Titas Gas Field & 1 well at Bakhrabad Gas Field will be drilled with its own resources. The company has envisaged work-over/re-completion of certain existing wells at Titas, Bakhrabad and Meghna Gas Fields under the ongoing development programme. To have a comprehensive picture of the gas reservoir, 3-D Seismic Survey over Titas and Bakhrabad Gas Fields will be conducted with the financial assistance of ADB.
During the financial year 2007-2008, BGFCL produced 254.18 bcf of gas from its 32 producing wells; this averages about 696.38 million cubic feet gas per day.