Chevron Corporation, the world’s largest energy corporation, intends to invest in new gas exploration activities in Bangladesh in order to improve the country’s energy security, senior executives announced on Tuesday.

Chevron officials expressed satisfaction with the interim government as it begins to resolve arrears of hundreds of millions of dollars that remained unpaid during the final two years of the Sheikh Hasina administration.

Led by Frank Cassulo, a vice president of the company, Chevron officials called on Chief Adviser Prof Muhammad Yunus at the State Guest House Jamuna.

Cassulo said increasing gas demand due to growing economic activities and a better business outlook have prompted Chevron to invest in new drilling activities in northeastern parts of the country.

“We will invest in new onshore gas exploration,” he said, adding new gas reserves would boost the country’s economic growth.

Chief Adviser Professor Muhammad Yunus welcomed Chevron’s move to explore new gas reserves, saying the interim government has planned to increase gas supply to local companies amid an uptick in economic activities.

“We are now ready for business. We welcome more foreign direct investment in the country. Major multinational companies have already responded positively,” he said.

The chief adviser highlighted key reforms undertaken by the interim government to ensure a better investment climate in the country.

Professor Yunus praised Chevron’s social responsibility activities for the local communities.

Lutfey Siddiqi, special envoy of the Chief Adviser, was present at the meeting.

He said the government is committed to clearing Chevron dues by April next year.

Chevron and the Petrobangla reached the six-month repayment deal soon after the interim government took over.