Bangladesh sought more investments from Chevron, the second-biggest energy producer in the US, on Sunday during a meeting.

A high-level delegation from Chevron met Prime Minister Tarique Rahman to discuss the US energy giant’s potential investment in Bangladesh’s energy sector, particularly gas.

President of Chevron’s Base Assets and Emerging Countries Javier La Rosa led the delegation during the meeting held at the Prime Minister’s Office at Bangladesh Secretariat in the morning, said a release issued by the PM’s Press Wing.

During the meeting, the delegation discussed increasing Chevron’s investment in Bangladesh’s existing and mature gas fields, as well as exploring opportunities for investment in new gas fields.

The discussions came amid the government’s efforts to strengthen domestic gas production and attract investment to the energy sector to meet the country’s growing energy demand.

Last month, local media reported that Chevron had submitted an investment proposal for further hydrocarbon exploration in block-11 and block-12 in the country's gas-rich northeastern region, specifically the Surma Basin.

The energy ministry tasked state-run Petrobangla to review the investment proposal from the US multinational.

It was further reported that the company was installing a compression station near Jalalbad gas field at a cost of around 65 million dollars to increase gas production from nearby producing gas fields, with the project expected to be completed within 30 months.

Chevron's investment proposal for the unexplored onshore areas in the Surma basin has been pending approval by the government for a while.

Chevron currently operates three gas fields in Bangladesh through its subsidiary Chevron Bangladesh.

All three are located in northeastern Bangladesh and are operated under production-sharing contracts with the government and Petrobangla.

Chevron says it has invested more than 4.2 billion dollars in foreign direct investment in Bangladesh as of December 2024.