Chevron to Expand Bangladesh Natural Gas Project

abarrelfullabarrelfull wrote on 30 Jul 2012 15:10
Tags: asia bangladesh chevron upstream

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Chevron Corporation (NYSE: CVX) today announced that its subsidiary will proceed with the expansion of its Bibiyana natural gas field in north-west Bangladesh.

The new project will include expansion of the gas plant to process increased natural gas volumes from the Bibiyana Field, additional development wells, and an enhanced gas liquids recovery unit. The project is estimated to cost approximately $500 million and is expected to boost Chevron’s total natural gas production capacity in Bangladesh by more than 300 million cubic feet per day to 1.4 billion cubic feet per day, and 4,000 barrels per day of natural gas liquids. First production is expected in 2014.

George Kirkland, vice chairman, Chevron Corporation, said, “As the largest holder of natural gas resources in Asia-Pacific among our peers, this investment in Bangladesh further strengthens our regional portfolio of major gas projects and enhances our position as a leading supplier in the Asia Pacific region.”

Melody Meyer, president, Chevron Asia Pacific Exploration and Production, said, “Bibiyana is the largest producing gas field in Bangladesh and a leading example of how technology, investment, and expertise can assist countries to utilize domestic resources to secure reliable, cleaner-burning, and affordable sources of energy.”

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