Chevron Bangladesh has shown interest to participate in the coming offshore bidding round 2024 to explore oil and gas in the Bay of Bengal, a policymaker said.
Now, the company is producing around half of natural gas production to 1200mmcfd.
“We have discussed with the Chevron on Sunday and they have interested to participate in the coming offshore bidding round,” state minister for power and energy Nasrul Hamid said after attending a meeting with Chevron Bangladesh top officials at Bibiyana Gas field at Habiganj district in Sylhet.
Nasrul Hamid visited the field to inaugurate the Bibiyana’s optimization project to boost gas production of the country’s largest gas field operated by US company Chevron Bangladesh at Sylhet on Sunday.
Petrobangla chairman Zanendra Nath Sarker, Chevron Bangladesh president Eric M Walker, Chevron Bangladesh Director corporate affairs Muhammad Imrul Kabir and senior official concern attended at the inaugural function.
The Chevron has already purchasing data to participate in offshore blocks, Nasrul Hamid said.
They are interested to work both in onshore and offshore blocks, he added.
Besides, Bangladesh is getting 1100mmcfd of natural gas from Bibiyana gas field which was 1400mmcfd earlier, Nasrul said said.
The gas supply from the field will be increased after 2026-27 after installation of booster, the minister said.
There is good prospect at Bibiyana gas field in fiscal year 2030-31, according to the minister.
He addd the Chevron has already invested USD$3.9 billion more than 28 years.
The minister has requested to the US company to adopt the artificial intelligence technology in Bibiyana gas field to increase output.
Responded to 60 kilometers extended areas allowed to Chevron at Bibiyana gas field, he said the ministry asked the Petrobangla to find out the proper solution about Production Sharing Contract (PSC) benefit from new area.
Talking over the issue, Petrobangla chairman said the Petrobangla has already sought solid proposal from Chevron Bangladesh.
“Both parties will settle the issues through amicable solution,” according to him.
Chevron has been partner here in Bangladesh in 28 years. We are safely operating the gas fields here, Chevron Bangladesh president said.
“Future here is well and we are looking for new opportunity,” the president said.
The 97 percent of the workforce here from Bangladesh and they are amazing.
However, Bibiyana Optimization Project includes Turbo Expander and Booster Compressor in Bibiyana Gas plant to increase condensate production and sustain gas production from existing wells.
The project Successfully completed installation and commissioning of Turbo Expander under Bibiyana Optimization Project in 2022.
The overall condensate production is increased up to 2500 barrels/Day under the project.
