Bloomberg News

Bahrain Boosted Oil, Natural Gas Output Last Year, Mirza Says

February 27, 2012

Bahrain, the smallest oil producer in the Persian Gulf region, “improved” output last year at its oldest field and boosted production at a deposit shared with Saudi Arabia, Oil Minister Abdul Hussain Ali Mirza said.

Tatweer Petroleum Co., a joint venture between Occidental Petroleum Corp. (OXY), Abu Dhabi-based Mubadala Development Co. and the state-owned National Oil & Gas Authority of Bahrain, is responsible for a production improvement at the island kingdom’s Bahrain field, Mirza said today in a statement. The minister didn’t provide details about the amount of crude produced there.

The Abu Saafa field shared with neighboring Saudi Arabia pumped a record 300,000 barrels a day in 2011, with Bahrain receiving half of that amount, Mirza said. Bahrain produced 552 billion cubic tons of natural gas last year and plans to build a sea port for liquefied gas, he said in the statement detailing progress in energy output in 2011.

Bahrain, the first Gulf country to discover crude, is among producers including Saudi Arabia and Kuwait that are seeking to recover more oil and gas from their fields to satisfy higher domestic demand and raise exports. Tatweer Chief Executive Officer Adel Almoayyed said in a Sept. 28 interview that his company was targeting an increase in production to 70,000 barrels a day by 2016 from the Bahrain field.

Occidental drilled a first oil-exploration well in southwestern Bahrain last year and will drill an additional two wells in 2012 as part of an agreement with the government, Mirza said.

To contact the reporter on this story: Donna Abu Nasr in Dubai at dabunasr@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net


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