Bahrain to more than double production with onshore oil field deal
ABU DHABI Ñ Bahrain plans to expand its onshore oil field in a
project with Western contractors.
The plan has included the signing of a development production sharing
agreement between the Gulf Cooperation Council kingdom and Mubadala
Development Co. of the United Arab Emirates and the U.S. firm Occidental
Petroleum, Middle East Newsline reported.
Officials said the deal, signed on April 26, could lead to the
doubling of Bahrain's crude oil and natural gas production.
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"This will result in significantly increasing our daily oil and gas
production levels and add many hundreds of millions of oil barrels and
trillions of cubic feet of natural gas to the reserves of the Bahrain
Field," Bahraini Energy Minister Abdul Hussein Mirza said.
The agreement, expected to increase the oil output from the Bahrain
Field from the current 35,000 to 100,000 barrels per day, requires approval
from Bahrain's parliament.
Mirza said he expected the project to begin by
the end of 2009.