Among Bangladesh’s gas fields, the highest gas production comes from the Bibiyana gas field operated by Chevron. Earlier reports from Petrobangla indicated that this gas field’s reserves had been depleted. However, according to FY 2023-24 gas reserve data, Bibiyana field still holds 1,667 billion cubic feet (BCF) of gas reserves. Although reserves slightly decreased by the end of the FY 2024-25, at least 1.5 trillion cubic feet (TCF) of gas remains.

Energy sector insiders see the increase in Bibiyana’s gas reserves as a hopeful sign for the country’s gas sector. They say this field supplies 50 percent of the country’s local gas production. If the current rate of gas production to the national grid continues, this field could provide gas for about the next 10 years.

Petrobangla sources report that in FY 2024-25, Bibiyana field produced an average of 338 million cubic meters of gas per month. By March of this year, a total of 3,046 million cubic meters had been extracted from this field. Based on averages, about 4,063 million cubic meters (143.48 BCF) of gas was extracted during the last fiscal year. Excluding last fiscal year’s figures, Bibiyana gas field still holds reserves of 1,524 BCF.

Petrobangla’s annual report for 2023-24 on gas reserves shows that there are still 8.66 TCF of extractable gas in 29 gas fields across the country. According to Two-P (proven and probable) reserves, the Bibiyana gas field contains a total of 7,666 BCF of gas. Of this, 5,999 BCF had been extracted by June 2024. Additionally, 143.48 BCF (1 BCF = 28.31 million cubic meters) was produced during the last fiscal year.

Although contact was made with the multinational company regarding the gas reserves of the Bibiyana gas field, they did not provide any immediate information on the matter. However, they expressed a commitment to working with the Bangladesh government in the gas sector over the long term.

When asked, Chevron Bangladesh’s Media and Communication Manager Shaikh Jahidur Rahman told Bonik Barta, “Chevron Bangladesh continues to work and invest in partnership with the government of Bangladesh and Petrobangla to supply safe, reliable, and affordable natural gas. The company will continue to support meeting Bangladesh’s current and future energy demands. Chevron operates gas fields with world-class experts to meet Bangladesh’s energy targets. It helps fulfill energy needs by producing the highest amount of gas from the Jalalabad, Bibiyana, and Moulvibazar gas fields.”

Earlier, in FY 2022-23, Petrobangla’s gas reserve data showed 134 BCF of gas reserves in Bibiyana as of June 2023. The report indicated a total recoverable gas reserve of 5,755 BCF in Bibiyana, with 5,622 BCF already extracted by June 2023.

Currently, there are 20 gas fields in production in the country. Among them, Titas field had 1,914 BCF of gas reserves as of June last year. Bibiyana ranks next, with gas reserves of 1,667 BCF. According to Petrobangla sources, around 1,700 million cubic feet of gas is produced daily from the country’s fields. Of that, Bibiyana alone produces 848-850 million cubic feet, the highest output from a single gas field.

Attempts have been made over time to find out the amount of gas reserves under the IOC (International Oil Companies) in the country, but no clear information has been obtained from the concerned companies or Petrobangla. Especially, the amount of gas reserves in the fields operated by Chevron, which manages three gas fields in Bangladesh, remains unknown. Even the data Petrobangla has released at various times is claimed by Chevron to be quite outdated.

However, in Chevron Corporation’s 2023 annual report submitted to the U.S. Securities and Exchange Commission, it was stated that due to reserve management, gas reserves in the company’s fields in Bangladesh increased by 481 billion cubic feet (BCF). The report did not specify which gas fields experienced this increase.

Regarding the matter, Petrobangla’s Director of Production Sharing Contract Engineer, Md Shoeb, told Bonik Barta, “According to the latest published data, there are over 8.5 TCF of gas reserves. The reserves shown in the Bibiyana field may increase further. They are making efforts, and we are continuously providing our support.”