The company is looking to use natural gas that is produced at its Bibiyana field, which produces around 350 million cubic feet of gas per day.
Steve Wilson, CEO of Chevron Bangladesh, as quoted by Reuters, said: We are capable to develop and run independent power plants to help meet Bangladesh’s fast growing energy needs by the end of 2012.
Chevron could seek funds from the World Bank to develop the project, reported Reuters, quoting officials. The total cost of the project is estimated to be in excess of $650 million.
Chevron has so far invested around $820 million in the country, making it the largest foreign investor in Bangladesh’s energy sector, Reuters said.
