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BGFCL holds 61st annual general meeting

The 61st annual general meeting (AGM) of Bangladesh Gas Fields Company Limited (BGFCL) was held on February 9, at the auditorium of Bangladesh Shooting Federation in Dhaka.

BGFCL board chairman and secretary for energy and mineral resources division Nazimuddin Chowdhury presided over the meeting attended, among others, by Petrobangla and BGFCL high officials and shareholders, said a statement.

As the largest state-owned natural gas producing company, BGFCL during the financial year 2015-2016 earned Tk 36.62 billion from the sales of natural gas and petroleum products including other income.

After payment of supplementary duty and VAT and all expenditures, the company earned after tax profit of Tk 3.77 billion while it paid Tk 27.98 billion to the national exchequer in the form of SD and VAT, DSL, dividend and income tax.

In the year 2015-2016, the company produced a total of 2,98,266.846 million cubic feet gas from 40 producing wells of five different fields at an average daily production of approximate 817.17 million cubic feet which  is about 31 per cent of the country`s total gas production and about 78 per cent of the production by the state-owned companies.

Besides, the company`s condensate (by-product of natural gas) production was 27,000,744 litres or 1, 69,826 bbls during the aforesaid financial year.

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