Chevron launches $ 10m social programme

U.S. oil firm Chevron has launched an 18-month enterprise development programme in Bangladesh worth $10 million, the company said on Thursday.

The initiative, to be implemented by BRAC, a leading non-governmental organisation (NGO), is aimed at the communities of the Bibiyana, Jalalabad and Moulavi Bazar gas field locations where Chevron operates.

chevron-logo-promoThe programme will support about 20,000 people, and up to 1,500 enterprises will be created during the time frame.

“We believe that our success is tied to society’s progress and is built upon long-term, collaborative and mutually beneficial relationships,” said Melody Meyer, President of Chevron Asia Pacific Exploration and Production.

“We hope our joint work can give people the tools to climb out of poverty and lead them towards prosperity,” said Asif Saleh, a senior director of BRAC.

Chevron Bangladesh produces 1.5 billion cubic feet of natural gas a day, almost half of country’s total gas output from the three fields of Bibiyana, Jalalabad and Moulavi Bazar in northeastern Bangladesh.

Total investment of Chevron in Bangladesh is $1.7 billion, largest foreign investment in this sector.

Courtesy: Reuters