Chevron to Expand Bangladesh Natural Gas Project

Chevron Corporation

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.”