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Bangladesh plans to bid for Chevron gas fields

The Ministry of Energy of Bangladesh, through Bangladesh Gas Fields, plans to select an international firm to assess the gas reserves held in gas fields owned by Chevron, before issuing a formal bid to buy these assets.



Chevron is the main foreign company active in gas production in Bangladesh, with around 40% of total gas output; in 2015, it produced an average of 20 mcm/d (7.4 bcm) and 3,000 bbl/d (1.1 mbl) of condensate from three fields, namely Bibiyana, Jalalabad and Maulavi Bazar. Gas production is sold to national company Petrobangla under production-sharing contracts. The three fields supply half of the gas needs of capital city Dhaka.



In October 2016, US energy company Chevron announced that it was considering selling its assets in Bangladesh as part of a wider US$10bn asset sale programme for 2017 and that it had engaged commercial discussions with potential buyers. The sale would only occur if the company can realise attractive value, in a context of low energy prices.