The country’s gas production may fall from 2019. That's because the biggest field, Bibiyana, may yield less gas by then.
This came to light at the first joint management meeting (JMC) between Chevron and Petrobangla, after the US oil giant announced the decision to sell its Bangladesh assets to a Chinese consortium, Himalaya Energy Co. Ltd.
At the meeting held recently at the Petrobangla office, Chevron placed an operational budget of USD 129 million for 2018, which is USD 4 million more than the current year’s budget.
As the operator of blocks 12, 13 and 14, Chevron is supposed to submit the budget on behalf of the government. Later, Petrobangla has to follow the instructions of the PSC (production-sharing contract) for approval. According to the PSC, Petrobangla has to form a committee to evaluate the budget.
The meeting was headed by Md Towhid Hasanat Khan, the director (finance) of Petrobangla, as the chief of the JMC. Bangladesh Chevron president Kevin Lyon and other officials were present.
