Chevron Starts Gas Production from Bangladesh's Bibiyana Expansion Project
Chevron Corp.'s subsidiary in Bangladesh commenced natural gas production from the onshore Bibiyana Expansion Project in the northeastern part of the country, the company reported Tuesday.
The expansion project will boost Chevron-operated natural gas production capacity in Bangladesh by more than 300 million cubic feet per day to 1.4 billion cubic feet per day, while the company-operated natural gas liquids production capacity will rise by 4,000 barrels per day to 9,000 barrels per day.
"The Bibiyana expansion represents Chevron's commitment to developing new resources to meet energy demand in Asia ... The expansion is one of a slate of projects across the region that will deliver on Chevron's strategy to grow profitably in core areas," Jay Johnson, senior vice president, Upstream, Chevron Corp. said in a press release.
Facilities for the Bibiyan Expansion Project included an expansion of the existing gas plant to process increased natural gas volumes from the Bibiyana field, additional development wells and an enhanced gas liquids recovery unit.
"As the leading international investor in Bangladesh, Chevron values its partnership with the people of Bangladesh in support of the nation's energy security and long-term economic development. The Bibiyana Expansion Project is a further example of our commitment to invest for the long term and create value for our partners and the communities that we serve," Melody Meyer, president, Chevron Asia Pacific Exploration and Production, added in the press statement.
In July 2012, Chevron revealed plans to spend around $500 million to raise production from Bangladesh's largest gas field. The firm's Bangladesh subsidiary has a 99 percent working interest in the Bibiyana development.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Rooftop Solar Now 4th Largest Source of Electricity in Australia
- US Confirms Reimposition of Oil Sanctions against Venezuela
- Analyst Says USA Influence on Middle East Seems to be Fading
- EU, Industry Players Ink Charter to Meet Solar Energy Targets
- Russian Ships to Remain Banned from US Ports
- Brazil Court Reinstates Petrobras Chair to Divided Board
- EIB Lends $425.7 Million for Thuringia's Grid Upgrades
- Var Energi Confirms Oil Discovery in Ringhorne
- Seatrium, Shell Strengthen Floating Production Systems Collaboration
- An Already Bad Situation in the Red Sea Just Got Worse
- What's Next for Oil? Analysts Weigh In After Iran's Attack
- USA Regional Banks Dramatically Step Up Loans to Oil and Gas
- EIA Raises WTI Oil Price Forecasts
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Venezuela Authorities Arrest Two Senior Energy Officials
- Namibia Expects FID on Potential Major Oil Discovery by Yearend
- Oil Markets Were Already Positioned for Iran Attack
- Is The Iran Nuclear Deal Revival Project Dead?
- Petrobras Chairman Suspended
- Oil and Gas Executives Predict WTI Oil Price
- An Already Bad Situation in the Red Sea Just Got Worse
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil and Gas Execs Reveal Where They See Henry Hub Price Heading
- Equinor Makes Discovery in North Sea
- Macquarie Strategists Warn of Large Oil Price Correction
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Standard Chartered Reiterates $94 Brent Call
- Chevron, Hess Confident Embattled Merger Will Close Mid-2024
- Analysts Flag 'Remarkable Feature' of 2024 Oil Price Rally