A deposit capable of producing 500-600 barrels of oil per day has been discovered at the Sylhet No. 10 well, along with four layers of reserve fuel, according to State Minister for Power, Energy, and Mineral Resources Nasrul Hamid.

The excavation at the well reached a depth of 2,576 metres, and after testing on Friday, the presence of oil was confirmed at a depth of 1,397-1,445 metres, Hamid said at a media briefing on Sunday.

About 35 barrels of oil were bubbling up per hour at its natural pressure, and further testing will determine the extent of the deposit, he added.

Three gas deposits were also discovered at different depths, with the largest reserve yielding 25 million cubic feet of gas flow at a flowing pressure of 3,250 psi, according to the state minister.

Simultaneous extraction from these layers could be sustained for 8-10 years, generating about Tk 85 billion in reserve fuel. If extracted at a rate of 20 million cubic feet, it could last 15 years.