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Occidental seals Bahrain deal

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Sunday, 15 March 2009
BAHRAIN DEAL: US giant Occidental to overhaul Awalai field. (Getty Images)
BAHRAIN DEAL: US giant Occidental to overhaul Awalai field. (Getty Images)

US firm Occidental signed a deal on Sunday to overhaul Bahrain's Awali onshore oilfield.

Occidental Chief Executive Ray Irani signed the initial deal, which officials said aimed to raise output at the field to 100,000 barrels per day (bpd) from about 35,000 bpd.

The field, discovered in 1932, was the first oil find on the Arab side of the Gulf.

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Bahrain is a small oil producer. Aside from Awali output, the country also receives about 150,000 bpd of crude from Saudi Arabia, its share of output from the Abu Saafa oilfield.

Last year, Bahrain awarded a tender for offshore exploration to Occidental and Thailand's PTT Exploration and Production. (Reuters)

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