"We discovered gas which is commercially viable, a major boost to resolve the existing energy crisis," said Mortuza Ahmad Faruque, managing director of BAPEX.

He told Reuters that BAPEX found presence of gas at 3,020 meters from the surface at Srikail while drilling an exploratory well.

He was optimistic about the presence of another gas layer at around 2,900 meters depth at Srikail.

"The new field is of a medium size with the recoverable reserve of around 300 billion cubic feet (Bcf)," Faruque said.

He said that around 30 million cubic feet (mmcf) of gas could be produced daily from the well from December.

BAPEX initiated drilling the exploration well on May 5, 2012 and continued until June 30, at a cost of $9.81 million, Faruque said.

Bangladesh's overall gas production is now around 2.15 Bcf per day against demand for over 2.7-3.0 Bcf per day.