Global Firms Compete for Awali Oilfield Contract
Eleven international oil firms have expressed an interest in efforts to boost production at Bahrain's onshore Awali field, the Oil and Gas Affairs Minister revealed recently. Dr. Abdulhussain Mirza’s statement followed the announcement that US firm Occidental and Thailand's PTT Exploration and Production have been awarded the right to explore for oil and gas off the shores of the country.
Some reports have suggested that new technologies could double the amount of oil produced at the field from its current level of 35,000 barrels per day. Bids are expected by the end of the month.
The latest round of bidding comes on the heels of the recently concluded tender process for four offshore exploration blocks comprising Bahrain's entire explorable acreage.
Three of the blocks have now been awarded - two to Occidental and one to PTT - but a fourth block, which contains the area to the north of Bahrain, did not attract interest.
The Tender Board's decision to award the blocks to the two foreign firms will now pass to parliament for approval. [Source: http://www.gulf-daily-news.com]