Bahrain’s National Oil and Gas Authority is finalising the terms of the concession contract to be signed with Eni that the kingdom’s oil minister said will allow the Italian energy company to start drilling this year.
The agreement covers the exploration of oil and gas in Bahrain’s northern maritime bloc, according to Sheikh Mohammed bin Khalifa Al Khalifa.
Speaking the sidelines of the signing ceremony of the MoU between the National Oil and Gas Authority and Eni, Sheikh Mohammed said the Italian firm will begin drilling for the first oil exploratory well in the northern maritime bloc (No. 1) this year. He said approval has been given by the Higher Committee for Natural Resources, Cabinet, Shura and representatives councils.
He said the National Oil and Gas Authority, in cooperation with Petroleum Development Company (Tatweer), will conduct studies on more oil and energy discoveries in the next few years.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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