Chevron to pump $500m into Bibiyana gas field expansion

Production capacity to rise by 300m cubic feet per day
US oil major Chevron announced, on Monday, that it would invest $500 million in the expansion project of Bibiyana gas field, in the north-west of the country. The new project would include expansion of the gas plant, to process increased natural gas volumes from Bibiyana, three additional development wells, and an enhanced gas liquids recovery unit. Chevron Bangladesh chief Geoff Strong announced the final investment decision, at the Ruposhi Bangla Hotel, in the presence of finance minister AMA Muhith, adviser to the Prime Minister, Dr Tawfiq-e-Elahi Chowdhury, state minister for power, energy and mineral resources, Enamul Haque, US ambassador to Bangladesh, Dan Mozena, and top officials of the energy sector.
The project is estimated to cost about $500 million, which makes it the largest foreign investment project, ever, in the history of Bangladesh.
Welcoming the US oil giant’s contribution to the country’s energy sector, finance minister AMA Muhith said that the country was in need of huge energy to run its industries, power plants, and other sectors, and that it needed to continue its efforts to go for expansion programmes in the energy sector.
“Energy will give us the capacity to work for the welfare of the people,” the finance minister said.
“Today, we are about to touch the highest ever mark in gas production in the country’s history. But, KAFCO, CFUL, Ashuganj and Ghorashal fertiliser factories still remain shut, which means we have failed to supply sufficient gas to the industries,” he said.
The project would provide more affordable energy that would not only increase Chevron’s business in Bangladesh, but also help drive the country’s economic growth, Muhith said.
According to Chevron, 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.
To tap the gas into the pipeline, PetroBangla and Gas Transmission Company Limited (GTCL) are working on the new Bibiyana-Dhanua pipeline project.
State minister for power, energy and mineral resources, Enamul Haque, said, “We need more energy to run our industries, so, we need to expedite the process to bring fresh gas to the national grid, from this field.”
Ambassador Mozena said that, as one of the finest US companies working in the energy sector for years, Chevron would make Bangladesh a golden country. Chevron is one of the largest foreign investors in Bangladesh, providing employment, and supplying nearly 50 per cent of the country’s natural gas consumption. To bring the field into production in 2007, Chevron recruited about 2,300 Bangladeshi people to work on the project. Chevron also produces natural gas from the Jalalabad and Moulavi Bazar fields.

Courtesy of The Independent

Related News

Bangladesh hikes power price again in just 3 weeks

News Desk : dhakamirror.com The government has increased the retail power price again — by 5 per cent — along with an increase in the bulk price by over 8 per cent just 18 days after it had hiked the retail price on January 12 this year. The new retail prices and charges, announced for ... Read more

Achol Foundation reported 585 student suicides in 2022

News Desk : dhakamirror.com A survey by the Achol Foundation found that 585 students from schools, colleges, universities, and madrasas died by suicide in 2016. Among them, 340 were in school, 106 were in college, 85 were in university, and 54 were in a madrasa. The foundation revealed the information through a press release sent ... Read more

Mother, kid reunited by cop’s brave act

News Desk : dhakamirror.com A mother sold her two-month-old infant for Tk 30,000 to pay off debts. A police team reunited the mother and kid yesterday, three days after the terrible tragedy. The mother, Lima Hanufa, said her husband hasn’t worked in five years since a road accident incapacitated him. Lima, her family’s sole breadwinner, ... Read more

Taslima Nasreen claims she became a big victim of medical crime

News Desk : dhakamirror.com Exiled Bangladeshi writer Taslima Nasrin has accused a hospital in India of committing a “medical crime” by providing wrong treatment to her after she reportedly broke a bone in her leg. She claimed that doctors at the hospital conducted a total hip replacement surgery on her even though the X-ray report ... Read more

Boy found in the cargo container calls himself Fahim

News Desk : dhakamirror.com The boy found in a cargo container in Port Klang of Malaysia on January 17 calls himself Fahim and he could be Bangladeshi or Rohingya. A video clip of the boy, aged between 11 and 15, being rescued from the empty container went viral and in several clips the boy calls ... Read more

Sreemangal became cool at 5.6 degrees Celsius

News Desk : dhakamirror.com Sreemangal of Moulvibazar ha the lowest temperature of the season at 5.6 degrees Celsius in the 24 hours preceding friday morning. Mujibur Rahman, a Srimangal weather monitoring station officer, told UNB that the lowest temperature at Sreemangal was 2.8 degrees Celsius on February 4, 1968. Sreemangal is struggling with severe cold, ... Read more

Liver transplant: Sister saves brother

News Desk : dhakamirror.com Bogura resident 53-year-old Monetzar Rahman received a liver transplant from Bangabandhu Sheikh Mujib Medical University (BSMMU) physicians. At a press conference yesterday, BSMMU officials stated Montezar’s sister Shamima Akter, 43, gave 60% of her liver to save her brother. The Prime Minister’s Relief and Welfare Fund paid for surgery. BSMMU surgeons ... Read more

Biswa Ijtema first phase concludes with peace prayers

News Desk : dhakamirror.com The first phase of the Biswa Ijtema concluded today with the Akheri Munajat (final prayers), seeking peace on earth and prosperity for the Muslim Ummah. Thousands of devotees of all ages gathered at the Ijtema ground on the Turag banks and on the roads adjacent to the Ijtema venue during the ... Read more

Women use mobile phones more than men

News Desk : dhakamirror.com The latest survey from the Bangladesh Bureau of Statistics (BBS) shows that more women than men in the country have access to mobile phones. The proportion of mobile phone use of the male and female in the last 3-month is 89.9 percent and 90 percent respectively, said the report. The BBS ... Read more

What does a ride on the metro cost?

News Desk : dhakamirror.com The Uttara-Agargaon section of the country’s first metro rail will be inaugurated tomorrow. Dhaka Transport Coordination Authority (DTCA), the government agency responsible for fixing metro rail fare, has published the full list of metro rail fares. The minimum fare was fixed at Tk 20 and the maximum fare for travelling from ... Read more

DGHS advises taking booster and using mask amid rising COVID-19 cases

News Desk : dhakamirror.com Health officials told people today to be careful, such as by getting booster shots and wearing masks in crowded places. This comes after a warning from the National Advisory Committee about a possible new variant that has already spread through China and been found in India. Because of a highly contagious ... Read more

Met Office warns of fog

News Desk : dhakamirror.com A light to thick blanket of fog is likely to envelope large parts of Bangladesh for up to 12 hours from midnight. Moderate to thick fog may occur over the river basins and northern part of the country and light to moderate fog elsewhere over the country from midnight to morning, ... Read more

Bangladesh celebrates Victory Day

Nahid Riyasad The nation celebrates 52nd Victory Day on Friday commemorating the freedom fighters whose supreme sacrifice freed the country from Pakistani occupation force in 1971. Thousands of people from all walks of life started gathering at the National Memorial in Savar to pay tribute to the 1971 martyrs from the morning after the president ... Read more

Bangladesh’s Saleemul Huq among Nature’s top 10 scientists

News Desk : dhakamirror.com The scholarly publication Nature has presented a selection of ten individuals who were instrumental in shaping the most significant scientific stories in 2022. Saleemul Huq, a Bangladeshi scientist, has made it onto the list for his work to get wealthier nations to pay for the losses and damages caused by climate ... Read more

Martyred Intellectuals Day: People paying homage to martyred intellectuals

News Desk : dhakamirror.com People from all walks of life have been paying tributes to the martyred intellectuals by placing wreaths at the Martyred Intellectuals Memorial in Rayerbazar this morning, marking the Martyred Intellectuals Day. Most of the people, including teachers and students from different educational institutions, were wearing black clothes, a symbol of mourning. ... Read more

Stakeholders can deal with Evaly on own accord

News Desk : dhakamirror.com HC says in full text of order The High Court in the full text of an order has cleared the way for banks and other stakeholders to deal with beleaguered e-commerce platform Evaly on their own accord. “Since this court has never passed any order to halt the activities of Evaly, ... Read more

Argentina plans embassy in Bangladesh

News Desk : dhakamirror.com Argentina wants to open a diplomatic mission in Bangladesh. South Atlantic News Agency Merco Press says that the decision may have been helped by the fact that Bangladesh cheered for Lionel Messi’s team at the World Cup in Qatar. Bangladesh has always had a lot of die-hard Argentina fans, but during ... Read more

BBC’s 100 Women list includes Bangladeshi student

News Desk : dhakamirror.com The BBC placed Bangladeshi student Sanjida Islam Choya on its list of the world’s 100 most influential women for 2022 because of her work to stop child marriage. The BBC says that Sanjida has stopped at least 50 child marriages in Bangladesh. When she was in school, she saw a presentation ... Read more

HSC enrollment starts Dec 8, classes start Feb 1

News Desk : dhakamirror.com Enrollment for the following academic year’s Higher Secondary Certificate (HSC) courses will open on December 8 using an online registration system. Prof. Tapan Kumar Sarker, head of the Inter-Education Board Coordination Committee, said applicants can apply through December 15. He added the admission process will be posted on education boards’ and ... Read more

Umrah e-visa requires biometric data.

Elderly pilgrims may be affected, according to HAAB. News Desk : dhakamirror.com In order to receive their Umrah e-visas, pilgrims from Bangladesh and four other countries must submit biometric data, including “fingerprints,” to the Saudi authorities. According to a report citing an announcement by the Saudi Ministry of Hajj and Umrah, the other nations include ... Read more