US-based energy giant Chevron has announced plans to invest in new gas exploration initiatives in Bangladesh, aiming to strengthen the country’s energy security, company officials revealed today.

During a meeting with Chief Adviser Professor Muhammad Yunus at the State Guest House Jamuna, Chevron’s Vice President Frank Cassulo shared that growing economic activity and a positive business environment have encouraged the company to expand its operations in Bangladesh. Cassulo stated that Chevron plans to focus on new onshore gas drilling in the northeastern region, with expectations that additional gas reserves will significantly contribute to Bangladesh’s economic development.

“We are committed to investing in new gas exploration projects,” Cassulo said. “This will help meet the rising demand for energy and support the nation’s growth trajectory.”

Professor Yunus welcomed Chevron’s investment plans, emphasizing that the interim government is working to improve gas supply to local industries amidst increased economic activity. He noted the government’s commitment to attracting foreign direct investment and highlighted recent reforms designed to enhance the business environment.

“We are open for business and encourage global companies to explore opportunities in Bangladesh. Several multinational corporations have already shown keen interest,” Yunus said.

Professor Yunus also commended Chevron’s contributions to local community development through its corporate social responsibility initiatives.

The meeting was attended by Lutfey Siddiqi, Special Envoy to the Chief Adviser, who assured that the government would clear Chevron’s outstanding payments by April next year. Siddiqi confirmed that a six-month repayment plan had been agreed upon between Chevron and Petrobangla, following the transition to the interim government.