Bangladesh has allowed an additional 60 square kilometers of “flank” area to Chevron Bangladesh for expanding drilling activities of the country’s major gas field Bibiyana to increase natural gas output.
The Energy and Mineral Resources Division (EMRD) and the state-owned Petrobangla signed separate agreements with the US company to drill more wells at the expanded Bibiyana gas field.
Chevron Bangladesh will get an extension of another five years for Jalalabad (2034) and Moulvibazar (2038) Gas Fields.
Energy and Mineral Resources Division Deputy Secretary Morsheda Ferdous, Petrobangla Secretary (Senior General Manager) Ruchira Islam, and Chevron, Bangladesh President Eric M Walker signed the agreements on behalf of their respectibe sides on Sunday.
Petrobangla Chairman Nazmul Ahsan said the main objective of Chevron's Bibiyana Flank Area Extension is to drill new wells there.
So far, Chevron has drilled 26 wells at the Bibiyana gas field. It will begin
drilling the BY-27 development well in 2023 in the extended area.
“Chevron is expecting a new investment plan in the Surma basin where Bangladesh has found great prospects,” the Petrobangla chairman said.
Bibiyana has a prospect to produce 2.5 trillion cubic feet of natural gas.
Chevron is now producing around 1481.3 million cubic feet of gas per day from three gas fields – Bibiyana, Jalalabad and Moulvibazar – about 60 percent of the country's total gas production.
It has also been producing more than 80 percent of the total condensate production.
The newly extended area will be drilled under the same production sharing contract now applicable for the three gas fields, said Petrobangla chairman.