DHAKA, Bangladesh, Sept. 15, 2014 - Chevron Bangladesh [Chevron Bangladesh Block Twelve, Ltd, and Chevron Bangladesh Blocks Thirteen and Fourteen, Ltd] today announced a $10 MM commitment to create the Bangladesh Partnership Initiative (BPI), a five-year program to support economic development for communities in the Greater Sylhet region.

Chevron’s BPI commitment represents one of the largest corporate social investments for Bangladesh. Over the next five years, the BPI will work with local NGOs and international development organizations to assess local needs and establish enterprise and workforce development programs. The objective of these programs will be to promote economic stability, job creation and accelerate sustainable growth in local communities where Chevron operates.

“The sustainable economic development of our communities is a core focus area for Chevron’s social investment program. The goal of the Bangladesh Partnership Initiative will be to measurably improve the economic outlook in the communities where we operate over the next five years and into the future,” said Geoff Strong, president, Chevron Bangladesh.

To coordinate projects under the BPI with regional economic development efforts, Chevron Bangladesh will seek to work with government and private sector enterprises that share a commitment to economic development in the region.

Chevron is the single largest producer of natural gas in Bangladesh, supplying approximately 50 percent of the country's natural gas consumption. The company has increased natural gas production from 300 MMCFD in 2005 to 1.1 BCFD currently, to meet the country’s demand for energy. Chevron Bangladesh is also the country’s largest foreign investor, and provides employment to more than 4,000 Bangladeshis. Chevron is the highest corporate tax payer in Bangladesh for the past three consecutive fiscal years.

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