re: #269 avanti

U.S. Company Occidental Petroleum in Bahrain

On June 30, Ambassador Ereli met with the local representative of U.S. oil company Occidental Petroleum to discuss the company’s bid on a natural gas recovery project in Bahrain. Occidental Petroleum is one of two companies bidding on the project, and the winner of the tender will be announced later this year.

In April, Occidental signed a production sharing agreement with Abu Dhabi-based Mubadala Development and the Bahraini National Oil and Gas Authority. The deal will result in more than $1.5 billion of investment in Bahrain and create a joint operating company that is aiming to double Bahrain’s oil output to approximately 100,000 barrels per day.