press release chevron executives highlight enduring partnership with Bangladesh
Dhaka, Bangladesh, December 3, 2024 – Senior Chevron executives today reaffirmed the company’s long-standing partnership with Bangladesh during a meeting with Chief Adviser Dr Muhammad Yunus in Dhaka.
“Our enduring partnership with Bangladesh and Petrobangla has supported the nation’s energy security and fueled economic growth for close to 30 years,” said Frank Cassulo, Chevron Vice President, International Exploration and Production.
“We welcomed the opportunity to meet with Dr Yunus today to learn more about the interim government’s efforts to provide stability and progress economic recovery, including improving the business climate to attract further foreign investment.”
“We appreciate the interim government’s thoughtful and constructive approach as it navigates challenges that have influenced our operations and the investment outlook, he said.”
“The cooperation and efforts of our valued partner Petrobangla to progress the resolution of outstanding payments to Chevron are also highly appreciated and will enable future investments in the development of Bangladesh’s energy resources.”
As the largest US investor in Bangladesh, Chevron has contributed over US $4.1 billion to strengthen Bangladesh’s energy infrastructure in the last three decades, including over $580 million with local suppliers, serving as a reliable source of foreign exchange.
“Chevron is Bangladesh’s largest producer of natural gas, with its operations managed by a workforce comprised of 97% Bangladeshi nationals, said Eric M Walker, Chevron Bangladesh Managing Director and President.
“We value our longstanding partnership with Bangladesh and appreciate the interim government’s commitment to working through the current challenges, which once resolved, can unlock new energy opportunities,” he said.
“Chevron remains committed to supporting Bangladesh’s energy security and economic growth through continued partnership and investment.”
Chevron is one of the world’s leading integrated energy companies, involved in virtually every aspect of the energy industry. Chevron Bangladesh Block Twelve, Ltd. and Chevron Bangladesh Blocks Thirteen & Fourteen, Ltd. (“Chevron Bangladesh”) is the largest producer of natural gas in Bangladesh, accounting for about 60% of total domestic natural gas production and over 83% of the domestic condensate production. Chevron Bangladesh operates three gas fields in the northeast of the country. Chevron Bangladesh works with communities across its operations, building long-term partnerships that foster economic development and lasting benefits to them.
For further information, please contact:
Shaikh Jahidur Rahman
Communications Manager, Chevron Bangladesh, Mobile # +8801713034571