bahrain occidental oil venture may more than triple output
Last Updated : GMT 10:30:02
Arab Today, arab today
Arab Today, arab today

Bahrain, Occidental oil venture may more than triple output

Arab Today, arab today

Arab Today, arab today Bahrain, Occidental oil venture may more than triple output

Manama - Arabstoday

Bahrain’s venture with Occidental Petroleum and Mubadala Development seeks to more than triple output capacity at the island nation’s oil field, the head of the kingdom’s energy investment holding company said. The Bahrain field, the Middle East’s oldest producing deposit, has “a lot of potential” for expansion, Mohamed bin Khalifa Al-Khalifa, chief executive officer of Nogaholding, said today at a conference. Developments to tap more of the field’s reserves are “encouraging,” he said. Bahrain, which began pumping crude in the 1930s, is the Arabian Gulf’s smallest producer. It depends on Saudi Arabia, the world’s largest oil exporter, for supplies from a shared field that are delivered to Bahrain by pipeline. The deposit has produced about 30,000 barrels of crude a day and Tatweer Petroleum, as the joint venture is known, aims to raise output to at least 100,000 bpd, Al-Khalifa said at the Middle East Petroleum and Gas Conference in the Kingdom. The venture is also working to raise gas-output capacity to 2.7bn cubic feet per day by 2024 from 1.5bn cubic feet, Oil Minister Abdul Hussain Ali Mirza said at the same conference yesterday. Occidental is also developing a plan to tap deep gas reserves in deposits below the Bahrain field, Al-Khalifa said. To meet domestic demand until supplies from the Tatweer and Occidental projects become available, Nogaholding is developing plans for a liquefied-natural-gas receiving terminal with a capacity of 400m standard cubic feet a day, he said. The plan may include a floating facility and the company plans to shortlist two potential builders, he said. Excelerate Energy is one possible partner for the facility and Nogaholding has been in talks with the trading units of Royal Dutch Shell and Vitol Group regarding fuel supply, he said. Gas from the plant could be used in refinery units that the state oil company plans to build to create hydrogen to turn crude residue into more valuable diesel fuel, Al-Khalifa said. Bahrain, which gains income by exporting oil products, plans to invest US$6bn to US$10bn to expand capacity at its only refinery to more than 450,000 barrels a day from about 260,000 now, the oil minister said yesterday. State-owned Bahrain Petroleum Company needs to decide within a year whether to take on a partner to develop the refinery, which is expected to add new units by 2018, the company’s CEO, Gordon Smith, told reporters at the conference yesterday. Bahrain plans to invest US$15bn to develop oil and gas resources as the Arabian Gulf island state seeks to raise production and meet domestic energy needs over the next two decades, Mirza said yesterday. The country received nine bids for the LNG terminal construction and wants to award the terminal contract by the end of this year, Mirza said. The complex, which may cost US$300m to US$1bn, is to be finished by 2014 or 2015, so the country has time to find supplies, he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

bahrain occidental oil venture may more than triple output bahrain occidental oil venture may more than triple output

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

bahrain occidental oil venture may more than triple output bahrain occidental oil venture may more than triple output

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Japanese regulators raid Airbnb

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Saudi, Bahrain target Iran

GMT 00:48 2017 Monday ,20 November

Saudi, Bahrain target Iran
Arab Today, arab today Europe turns on Facebook, Google

GMT 02:26 2017 Monday ,20 November

Europe turns on Facebook, Google
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Mona Abdel Ghany increased artistic activities

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday