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Friday, January 22, 2010     FOR YOUR EYES ONLY

Bahrain seeks to triple oil production capacity

ABU DHABI - Bahrain has sought to use a planned $15 billion investment program to increase crude oil production to 100,000 barrels per day.


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 said.

Also In This Edition

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.

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