The company will invest about $500m for the expansion project to increase the total production capacity by more than 300 million cubic feet per day to 1.4 billion cubic feet per day, and 4,000 barrels per day of natural gas liquids.

Chevron Asia Pacific Exploration and Production president Melody Meyer said, "Bibiyana is the largest producing gas field in Bangladesh and a leading example of how technology, investment, and expertise can assist countries to utilize domestic resources to secure reliable, cleaner-burning, and affordable sources of energy."

The project will also include expanding the gas plant to process the increase volumes of natural gas from the Bibiyana Field, from the additionally developed wells, and from the enhanced gas liquids recovery unit.

The company is anticipating first production in 2014.

Chevron is a US based integrated energy company.