ABU DHABI - Bahrain has sought to use a planned $15 billion
investment program to increase crude oil production to 100,000 barrels per
Officials said Bahrain plans to triple oil production capacity from the
current 33,000 barrels per day. They said the Gulf Cooperation Council
kingdom would reach a production rate of 100,000 barrels per day by 2017.
"This capacity of 100,000 barrels per day will be maintained till 2028
which will be a record for Bahrain oil fields since the country drilled the
first oil well in 1932," Bahraini Energy Minister Abul Hussein Bin Ali Mirza
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The energy project has been sponsored by the state-owned National Oil
and Gas Authority, which awarded contracts to a joint venture by the U.S.
firm Occidental Petroleum and the United Arab Emirates' Mubadala Development
Co. Tatweer Petroleum. The joint venture also plans to double natural gas
production capacity to 2.7 million cubic feet per day.