4:32 pm - Monday September 25, 9567

Chevron announces production from Bibiyana expansion project

Chevron Corporation (NYSE: CVX), the US-based international oil company, Tuesday formally announced its enhanced gas production from Bibiyana gas field.

A press statement, released from Chevron’s headquarters in San Ramon of California, said that its Bangladesh subsidiary has commenced natural gas production from the Bibiyana Expansion Project in the northeastern part of the country.

chevron-logo-promoThe 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.

The project is expected to 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.

In addition, the project is expected to increase the company-operated natural gas liquids production capacity by 4,000 barrels per day to 9,000 barrels per day. Chevron’s Bangladesh subsidiary has a 99 percent working interest in Bibiyana, said the statement.

“The Bibiyana expansion represents Chevron’s commitment to developing new resources to meet energy demand in Asia,” said Jay Johnson, senior vice president, Upstream, Chevron Corporation. “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.”

Melody Meyer, president, Chevron Asia Pacific Exploration and Production, said: “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.”

Chevron is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. The company is involved in virtually every facet of the energy industry.

Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemical products; generates power and produces geothermal energy; and develops the energy resources of the future, including biofuels, said the US oil company.