Dhaka, June 27 -- After a year-long standstill, Chevron Bangladesh is set to resume its Jalalabad Compression Project, following the settlement of overdue payments by state-run Petrobangla.

The move signals renewed momentum in Chevron's investment plans to bolster Bangladesh's domestic gas output at a time of growing energy demand and depleting reserves.

"Chevron Bangladesh President Eric M Walker conveyed the company's intent in a recent meeting with me," Petrobangla Chairman Md Rezanur Rahman told The Financial Express Thursday.

He (Mr Walker) formally confirmed it in a letter dated June 22 to Petrobangla's Director (finance) AKM Mizanur Rahman.

The US energy giant plans to invest between $80 million and $90 million to complete the ...