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Tatweer Petroleum & Total Sign MOU to Cooperate in Progressing Oil & Gas Exploration Opportunities

Source: www.gulfoilandgas.com 4/29/2019, Location: Middle East

H.E. Shaikh Mohamed bin Khalifa bin Ahmed Al-Khalifa, Chairman of Tatweer Petroleum has signed a Memorandum of Understanding (MoU) between Tatweer Petroleum– Bahrain Field Development Company and Total E&P Activités Pétrolières to cooperate in progressing oil and gas exploration opportunities, knowledge sharing and the supply of Liquefied Natural Gas (LNG) to the Kingdom of Bahrain.

The signing took place as part of an official visit to France by a high level delegation from the Kingdom of Bahrain, led by His Majesty King Hamad bin Isa Al Khalifa, King of the Kingdom of Bahrain, to further enhance ties between the two countries.

Mr. Patrick Pouyanné, Total's Chairman and CEO, signed the MoU in the presence of a number of officials from the National Oil and Gas Authority, Tatweer Petroleum, Total and CEOs of other oil and gas companies.

H.E. Shaikh Mohamed praised the wise leadership led by His Majesty King Hamad bin Isa Al Khalifa, King of the Kingdom of Bahrain, in the development of the petroleum sector which aims to support the national economy.

H.E. Shaikh Mohamed also praised the excellent relations with Total, which is considered one of the largest oil and gas companies in the world, pointing out the company's high reputation globally and the extensive experience in the field of exploration and production over the decades, especially in the Middle East, with many achievements. H.E. Shaikh Mohamed added that the signing of this MoU is a positive step towards the exploitation of natural resources to meet the future energy requirements of the Kingdom of Bahrain.

H.E. Shaikh Mohamed stated that the MoU will allow for further discussion on collaboration between Tatweer Petroleum and Total, including sharing of experience, expertise and support on ongoing exploration and production activities in the recently discovered unconventional Khalij Al-Bahrain basin, as well as training and development of professionals from Tatweer Petroleum in the fields of LNG trading and oil and gas exploration and production.

Mr. Pouyanné stated that, “At the occasion of the visit of His Majesty King Hamad to France, Total is very pleased to give a new impetus to its partnership with the Kingdom of Bahrain. We intend to build on our expertise in unconventional oil and gas to contribute to the exploration dynamic driven by H.E. Shaikh Mohamed. This agreement also targets to develop cooperation in view of LNG supply for the benefit of the Kingdom of Bahrain."

H.E. Shaikh Mohamed, affirmed that the National Oil and Gas Authority pays great attention to strengthening relations and enhancing cooperation with all international oil companies and providing all means of supporting to support the Kingdom's energy needs to ensure the continuity of the economy growth and to meet the Kingdom of Bahrain's vision 2030 through the exploration of oil and gas onshore and offshore and to increase the portfolio of the Oil and Gas Holding Company B.S.C. (c) (nogaholding) by establishing more companies specialized in oil industries and the implementation of several related projects.

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