DHAKA: Chevron Bangladesh expects its natural gas output to have increased 25.17percent year on year to 1.492 Bcf/d by the start of 2015, following the inauguration of the Bibiyana gas plant expansion project in November.
Petrobangla chairman Hussain Monsur told it while talking to Platts.com on Thursday.
Chevron plans to increase natural gas output gradually from the Bibiyana gas field -- the country's largest with an average output of 850,000 Mcf/d from 17 producing gas wells -- from November, Monsur said.
In July 2012, Chevron announced a $500 million investment plan for gas plant expansion, new development wells and an enhanced liquids recovery unit.
As part of this investment, total daily production at the Bibiyana field will increase by over 300,000 Mcf/d, with 4,000 barrels of condensate produced. Chevron has also proposed to drill three new development wells at its Jalalabad gas field in Sylhet, a senior Petrobangla official said.
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A source at the company told Platts that if approved, Chevron will drill these three development wells in the coming winter, while Monsur confirmed Petrobangla was "scrutinizing the Chevron proposal."
Chevron Bangladesh is expected to invest $130 million in the Jalalabad Growth project, increasing natural gas output by a further 90,000 Mcf/d, up from 230,000 Mcf/d at present.
Chevron Bangladesh declined to comment Thursday.
Chevron alone is producing 1.168 Bcf/d of gas from three onshore gas fields in Bangladesh -- Bibiyana, Jalalabad and Moulavi Bazar -- located in blocks 12, 13 and 14, respectively, in the country's northeast.
Gas shortages in Bangladesh have prompted Petrobangla to ration new connections to industries, fertilizer factories and power plants, hindering economic growth since June 2009.
BDST: 1651 HRS, OCT 16, 2014
