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Chevron announces $500 million Bibiyana gas field expansion plan Project will add 300 mmcfd gas to the country by 2014
UNBconnect... - Chevron announces $500 million Bibiyana gas field expansion plan
Reported by: UNBConnect
Reported on: July 30, 2012 18:29 PM
Reported in: National
Dhaka, July 30 (UNB) Chevron Bangladesh on Monday announced a US$500 million expansion plan for its Bibiyana gas field operation that includes drilling of a number of additional development wells, expansion of natural gas processing plant and setting up enhanced gas liquids recovery unit.
Announcing the mega plan at a function at the citys Ruposhi Bangla Hotel, Chevron Bangladesh president Geoff Strong said the new investment will boost gas production by 300 million cubic feet per day (mmcfd) by 2014.
At present, Chevron Bangladesh, a subsidiary of US oil major Chevron Corporation, is producing about 1,122 mmcfd gas from its three gas fields in Sylhet region while the countrys total natural gas production is about 2,239 mmcfd. Chevrons production is about half of the countrys total gas production.
The three fields which Chevron has been operating for a decade are Bibiyana, Moulvibazar and Jalalabad fields.
Geoff Strong said US$ 500 million is the largest investment by a single foreign company ever in Bangladesh.
He said the new gas production will provide more affordable energy to the country that will help reduce poverty.
Finance Minister AMA Muhith, who was the chief guest at the function, said that Chevrons investment plan is very important for the country as it will provide larger supply of gas to meet the essential needs of the country.
He said providing gas to people involves a number of additional activities like gas pipeline building and compressor installation.
Muhith said if the gas exploration continues without any break, it results in getting additional gas to the existing reserve. But unfortunately, in Bangladesh, weve not been continuing gas exploration for which todays gas crisis persists.
He said gas exploration activities will have to be strengthened. This will lead the country to a new level of development and existence.
The Finance Minister said though the country is producing 2239 mmcfd gas per day, still four large fertiliser factories remained closed for gas shortage.
Prime Ministers Advisor Dr. Tawfiq-e-Elahi Chowdhury, State Minister for Power Mohammad Enamul Haque, US Ambassador in Dhaka Dan W Mozena, Power Secretary Abul Kalam Azad and Petrobangla chairman Dr. Hussain Monsur also spoke at the function.
Dr. Tawfiq Elahi said the government had taken some important decisions three years back on gas exploration, gas compressor installation and pipeline building which are now giving results.
Dan Mozena said the Chevrons investment will help resolve energy crisis in Bangladesh and also help it become a real Royal Bengal Tiger of the economy.
Abul Kalam Azad said the power sector is eagerly waiting Chevrons gas for its power sector. If the gas comes, the power plants will consume more gas and will provide more power at cheaper price. After getting that gas, power price will come down, he said.
UNBconnect... - Chevron announces $500 million Bibiyana gas field expansion plan
Reported by: UNBConnect
Reported on: July 30, 2012 18:29 PM
Reported in: National
Dhaka, July 30 (UNB) Chevron Bangladesh on Monday announced a US$500 million expansion plan for its Bibiyana gas field operation that includes drilling of a number of additional development wells, expansion of natural gas processing plant and setting up enhanced gas liquids recovery unit.
Announcing the mega plan at a function at the citys Ruposhi Bangla Hotel, Chevron Bangladesh president Geoff Strong said the new investment will boost gas production by 300 million cubic feet per day (mmcfd) by 2014.
At present, Chevron Bangladesh, a subsidiary of US oil major Chevron Corporation, is producing about 1,122 mmcfd gas from its three gas fields in Sylhet region while the countrys total natural gas production is about 2,239 mmcfd. Chevrons production is about half of the countrys total gas production.
The three fields which Chevron has been operating for a decade are Bibiyana, Moulvibazar and Jalalabad fields.
Geoff Strong said US$ 500 million is the largest investment by a single foreign company ever in Bangladesh.
He said the new gas production will provide more affordable energy to the country that will help reduce poverty.
Finance Minister AMA Muhith, who was the chief guest at the function, said that Chevrons investment plan is very important for the country as it will provide larger supply of gas to meet the essential needs of the country.
He said providing gas to people involves a number of additional activities like gas pipeline building and compressor installation.
Muhith said if the gas exploration continues without any break, it results in getting additional gas to the existing reserve. But unfortunately, in Bangladesh, weve not been continuing gas exploration for which todays gas crisis persists.
He said gas exploration activities will have to be strengthened. This will lead the country to a new level of development and existence.
The Finance Minister said though the country is producing 2239 mmcfd gas per day, still four large fertiliser factories remained closed for gas shortage.
Prime Ministers Advisor Dr. Tawfiq-e-Elahi Chowdhury, State Minister for Power Mohammad Enamul Haque, US Ambassador in Dhaka Dan W Mozena, Power Secretary Abul Kalam Azad and Petrobangla chairman Dr. Hussain Monsur also spoke at the function.
Dr. Tawfiq Elahi said the government had taken some important decisions three years back on gas exploration, gas compressor installation and pipeline building which are now giving results.
Dan Mozena said the Chevrons investment will help resolve energy crisis in Bangladesh and also help it become a real Royal Bengal Tiger of the economy.
Abul Kalam Azad said the power sector is eagerly waiting Chevrons gas for its power sector. If the gas comes, the power plants will consume more gas and will provide more power at cheaper price. After getting that gas, power price will come down, he said.
mashaAllah nearly the size of Qadirpur field in Pakistan
