Gulf Oil and Gas accountACCOUNT

Bangladesh to Bid for Chevron Gas Fields after Assessing Reserves

Source: Reuters 1/30/2017, Location: Asia

Bangladesh is hiring an international firm to assess reserves at Chevron Corp's natural gas fields in the country before placing a formal bid to buy the assets, its energy minister told Reuters on Monday.

Energy-starved Dhaka meets half of its gas needs through the three Chevron-operated fields at Bibiyana, Jalalabad and Moulavi Bazar in the northeast of Bangladesh, highlighting their importance for the poor country.

Bangladesh will make Chevron an offer once the reserves and other details have been assessed, Nasrul Hamid, state minister for power, energy and mineral resources, said.

Chevron, the second-largest United States-based oil producer, said in 2015 it planned to sell about $10 billion of assets by 2017 amid a prolonged slump in energy prices.

Last year, Chevron said it was in discussions about the potential sale of the three fields with an estimated value of $2 billion.

Bangladesh Gas Fields Co will next month select the company that will assess the reserves, Hamid said, adding that it might need the help of an international oil firm to further develop the fields.

Chevron sells its entire output from these fields to state oil company Petrobangla under a production-sharing contra

Geological and Geophysical News in Bangladesh >>

Russia >>  6/22/2020 - LUKOIL started drilling of an exploration well at the Shirotno-Rakushechnaya prospect structure, located to the north of the V.I. Grayfer field. As th...
India >>  6/19/2020 - KBR (KBR) has signed a memorandum of understanding with L&T Hydrocarbon Engineering Ltd (LTHE) for refinery and petrochemical projects. ...

India >>  6/9/2020 - Adani Green Energy Limited has won the first of its kind manufacturing linked solar agreement from the Solar Energy Corporation of India (SECI). As a ...
Myanmar >>  6/7/2020 - Penspen has been awarded a contract from one of the oil and gas operators in Myanmar, for an offshore natural gas project in Myanmar. ...

Related Categories: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 

Related Articles: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 


Bangladesh Oil & Gas 1 >> 

More News

Related Links

Gulf Oil and Gas
Copyright 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.