Bangladesh Gas Fields Company Limited (BGFCL) earned Tk 23.694 billion from sales of gas and petroleum products and other sources in 2012. After deduction of total revenue expenditure of Tk 21.72 billion including supplementary duty & VAT, the company earned a pre-tax profit of Tk 1.97 billion.

It was disclosed at the 57th Annual General Meeting of Bangladesh Gas Fields Company Limited (BGFCL) held in the city recently.

Mohammad Mejbahuddin, Chairman, BGFCL Board & Secretary, Energy & Mineral Resources Division chaired.

At present, the company is producing approximately 761 million cubic feet of gas daily from 32 wells of its 5 producing fields which is about 38 per cent of the total gas demand of the country.

During the fiscal year 2010-2011, the company paid Tk 21.26 billion to the national exchequer in the form of SD & VAT, DSL, dividend and income tax.

In the meeting 8.58 per cent dividend was declared for the financial year, 2011-2012.

Md. Shafiqur Rahman, Managing Director of BGFCL informed the shareholders that to cope with increasing gas demand in the country, the company undertook 10 development projects which include 6 self-financing, two ADB, one GOB and one GDF financing project.
Besides, 4 appraisal-cum-development wells will be drilled under an ADB financing project based on outcome of 3-D Siesmic Survey and drilling result of Titas well nos. 17 & 18. After completion of some development projects, the Company has been able to add approximately 75 mmcfd gas to the national grid.