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Chevron Corp. announced its subsidiary will expand its Bibiyana natural gas field in northwest 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 US $500 million and is expected to boost Chevron's total natural gas production capacity in Bangladesh by more than 300 MMcf/d to 1.4 Bcf/d, and 4,000 b/d of natural gas liquids. First production is expected in 2014.
“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,” said George Kirkland, vice chairman of Chevron.
Melody Meyer, president of Chevron Asia Pacific Exploration and Production, added, “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.”