OREANDA-NEWS. On March 18, 2007 Chevron Corporation (NYSE: CVX) announced the inauguration of the Bibiyana natural gas field, which is located onshore in Block 12 in the northeast of Bangladesh in Habiganj District, reported the press-service of Chevron Corporation.


Bibiyana, one of the largest gas fields in Bangladesh, is expected to initially produce 200 million cubic feet of natural gas per day (mmcfd). The plant's full capacity of 600 mmcfd is scheduled to be available by late 2007, with the field reaching maximum total production of 500 mmcfd by 2010. Once full production is realized, Bibiyana is set to become the largest producing gas field in the country.

Speaking during the inauguration ceremony at the Bibiyana field, John Watson, president, Chevron International Exploration & Production, said, "Achieving first gas at Bibiyana is a significant milestone for Chevron and demonstrates the company's ability to select and execute major capital projects. "Bibiyana is a world-class gas resource that is expected to supply reliable, clean energy for the next 20 to 30 years," he said.

The project includes 12 development wells, a gas plant, a natural gas pipeline and a condensate pipe line. The company has signed a gas purchase and sales agreement with Petrobangla, the state owned oil and gas company. Chevron holds interests in three production sharing contracts in Bangladesh, encompassing more than 10,000 square kilometres (2,47 million acres). Chevron Bangladesh has a 98 percent working interest in Bibiyana, Jalalabad and Moulavi Bazar fields, with the latter two fields having a combined average total production of 330 mmcfd. Chevron also has a 43 percent interest in Block 7 in southern Bangladesh where the company conducted seismic survey in 2006.