Island kingdom's top oil official says Bahrain is targeting output capacity of 100,000 bpd by 2017
Non-OPEC oil producer Bahrain has
boosted its oil production to 40,000 barrels per day (bpd) from
32,000 bpd after the country started to overhaul its main
oilfield, Bahrain's top oil official was quoted as saying on
Abdul-Hussain bin Ali Mirza, head of the National Oil and
Gas Authority (NOGA), told the Gulf Daily News that this was the
first increase since the late 1970s.
Bahrain started to overhaul its main oilfield last year
after U.S.-based Occidental Petroleum Corp and the
United Arab Emirates' Mubadala Development Co agreed
to invest $15 billion to develop the Bahrain field.
"We are making progress already as is indicated by an 8,000
bpd increase and will make more progress as we go along," Mirza
was quoted as saying in the newspaper.
He said Bahrain is targeting output capacity of 100,000 bpd
Oil is the main source of income for Bahrain's government,
and higher output will help the island kingdom tackle mounting
fiscal pressures due to a rising subsidies bill.