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Chevron to build LPG plant in BD
Published : Friday, 14 June 2013
FE Report
Chevron Bangladesh is eyeing to build a liquefied petroleum gas (LPG) plant in the country to reap business prospects with the growth in its use, a senior official said.
The US firm has submitted a proposal to the Energy Division under the ministry of power, energy and mineral resources (MoPEMR) to build the LPG plant near its Bibiyana gas field in the Sylhet region, he said.
Chevron Bangladesh President Geoffrey Strong delivered a presentation on the proposed plant to the MoPEMR Thursday.
The official did not provide any figure about the exact capacity of the LPG bottling plant, but said it might be of 20,000-50,000 tonnes per year capacity.
This is the first proposal from an operational international oil company (IOC), engaged in upstream activity in the oil and gas sector in Bangladesh, to set up an LPG plant and do business in the country, a senior Petrobangla official said.
"Decision on Chevron's proposal will be taken after carrying out a feasibility study," said the official.
Decision will be taken considering the whole gamut of the proposal, he said.
Scrutiny will also be done on whether the proposed LPG project could be implemented under the existing production sharing contract (PSC) or under any fresh deal, the official added.
Chervon-operated Bibiyana is the largest gas producing field in Bangladesh with an average output of around 820 million cubic feet per day (mmcfd) of gas from 12 wells.
The field is one of the most significant natural gas discoveries in Bangladesh, in both quality and size of the reserve.
Chevron on July 30, 2012 announced a US$ 500 million investment plan, which included gas plant expansion, new development of wells and an enhanced liquids recovery unit.
It is expected to increase the total maximum daily production by more than 300 mmcfd of natural gas and 4,000 barrels of condensate.
First production from the expansion project is expected in 2014. Four development wells were drilled at Bibiyana in 2012, and more development drilling is planned for 2013 and 2014.
Chevron is the largest gas producing IOC in Bangladesh and it produces majority of the country's natural gas output.
Average natural gas output from its three fields in Bangladesh is hovering around 1,170 mmcfd, which is 51.35 per cent of the country's total output of 2,280 mmcfd.
Chevron has a 100 per cent interest in the Bibiyana, Jalalabad and Moulvibazar gas fields, in onshore blocks 12, 13 and 14 respectively and all are located in north-eastern Bangladesh.
- See more at: Chevron to build LPG plant in BD :: Financial Express :: Financial Newspaper of Bangladesh
Published : Friday, 14 June 2013
FE Report
Chevron Bangladesh is eyeing to build a liquefied petroleum gas (LPG) plant in the country to reap business prospects with the growth in its use, a senior official said.
The US firm has submitted a proposal to the Energy Division under the ministry of power, energy and mineral resources (MoPEMR) to build the LPG plant near its Bibiyana gas field in the Sylhet region, he said.
Chevron Bangladesh President Geoffrey Strong delivered a presentation on the proposed plant to the MoPEMR Thursday.
The official did not provide any figure about the exact capacity of the LPG bottling plant, but said it might be of 20,000-50,000 tonnes per year capacity.
This is the first proposal from an operational international oil company (IOC), engaged in upstream activity in the oil and gas sector in Bangladesh, to set up an LPG plant and do business in the country, a senior Petrobangla official said.
"Decision on Chevron's proposal will be taken after carrying out a feasibility study," said the official.
Decision will be taken considering the whole gamut of the proposal, he said.
Scrutiny will also be done on whether the proposed LPG project could be implemented under the existing production sharing contract (PSC) or under any fresh deal, the official added.
Chervon-operated Bibiyana is the largest gas producing field in Bangladesh with an average output of around 820 million cubic feet per day (mmcfd) of gas from 12 wells.
The field is one of the most significant natural gas discoveries in Bangladesh, in both quality and size of the reserve.
Chevron on July 30, 2012 announced a US$ 500 million investment plan, which included gas plant expansion, new development of wells and an enhanced liquids recovery unit.
It is expected to increase the total maximum daily production by more than 300 mmcfd of natural gas and 4,000 barrels of condensate.
First production from the expansion project is expected in 2014. Four development wells were drilled at Bibiyana in 2012, and more development drilling is planned for 2013 and 2014.
Chevron is the largest gas producing IOC in Bangladesh and it produces majority of the country's natural gas output.
Average natural gas output from its three fields in Bangladesh is hovering around 1,170 mmcfd, which is 51.35 per cent of the country's total output of 2,280 mmcfd.
Chevron has a 100 per cent interest in the Bibiyana, Jalalabad and Moulvibazar gas fields, in onshore blocks 12, 13 and 14 respectively and all are located in north-eastern Bangladesh.
- See more at: Chevron to build LPG plant in BD :: Financial Express :: Financial Newspaper of Bangladesh
