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Bahrain To Invite Oil Cos For Exploration This Year

Source: www.gulfoilandgas.com 1/24/2007, Location: Middle East

The Persian Gulf island state of Bahrain is preparing to invite international oil companies to help it explore for possible oil reserves, according to a report from the official Bahrain News Agency.

Bahrain, which has a population of about 700,000, will launch an oil exploration tender later this year, the Agency reported Abdulhussain Bin Ali Mirza, who is oil minister and chairman of the National Oil and Gas Authority, as saying.

The successful bidder, which will carry out exploration activities in cooperation with state-owned Bahrain Petroleum Co., or Bapco, will be announced by the end of 2007, Ali Mirza said, according to BNA.

Bahrain presently produces as much as 35,000 barrels a day of crude from its onshore Awali oil field, data on the U.S. Department of Energy's Energy Information Administration Web site show.

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