Bahrain: Oil and Gas Sector’s Latest Developments
There has been significant downstream, upstream, and midstream development in Bahrain, such as Tatweer Petroleum drilling 15-18 new wells in Khuff Formation to increase the gas production of the Kindom, increased offshore exploration, the upgrading of Bapco refinery, and a planned US$ 20 billion investment into major oil and gas project. Dr. Mohamed Al Khalifa, Chief Executive of Banagas, discusses these recent developments in the oil and gas sector in Bahrain.
There has been significant downstream, upstream, and midstream development in Bahrain, such as Tatweer Petroleum drilling 15-18 new wells in Khuff Formation to increase the gas production of the Kindom, increased offshore exploration, the upgrading of Bapco refinery, and a planned US$ 20 billion investment into major oil and gas project. Dr. Mohamed Al Khalifa, Chief Executive of Banagas, discusses these recent developments in the oil and gas sector in Bahrain.
Dr. Khalifa comments on the progress of Tatweer: “Tatweer started this to boost the oil production in Bahrain and so far they have succeeded, not in reaching the target, but they have ongoing progress to increase the oil production. Meanwhile I think they are also working on gas production and from the announcements, I think there will be a prospect in the gas hopefully by the end of the year.”
As for Bahrain finding another source of oil and gas in its offshore blocks, Dr. Khalifa stays realistic: “There have been no official announcements but I think they will announce this very soon. If there are prospects then I’m sure there will be programs but if not, I’m sure other companies will be participating in further initiatives.”