State Minister for Power, Energy, and Mineral Resources Nasrul Hamid made the announcement in a press briefing Sunday, saying the deposit capable of producing 500-600 barrels of crude oil per day has been discovered at a well in Sylhet district, some 240 km northeast of the capital Dhaka.
He said the presence of oil was confirmed at a depth of 1,397-1,445 meters.
Apart from this, he said the gas deposit was also discovered at different depths, with the largest reserve yielding 25 million cubic feet of gas flow at a flowing pressure of 3,250 pounds per square inch (PSI).
"We started drilling in our Sylhet-10 well two months ago. The gas was found in four layers there," said the official.
"The greater news is that we've found oil in the first layer," he added.
In 2012, Bangladesh struck commercially feasible oil for the first time in two gas fields in the northeastern Sylhet region.
The state minister said the full extent of the latest gas and oil reserves will be known after all the tests are completed in four to five months.
MNA/PR
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