Bahrein Oil Field Is To Be Developed by a Foreign Company

Bahraini Energy Minister Abdul Hussein Mirza annonced that foreign companies will be involved in Bahreini major oil field development.

Out of eight companies which took part in the tender, three have alredy been chosen. These are U.S. firms ExxonMobil and Occidental and Denmark-based Maersk. It's important to notice that Occidental has already been working in Bahrain's energy sector.

Nevertheless, the shortlisted three have to now submit the final bids and one of them will be selected during the first quarter next year, Bahraini Energy Minister reported.

Mirza also added that the state-owned National Oil and Gas Authority would establish a joint venture with the winner of the tender.

The prospects of this project are very hopeful. Bahreini officials say that crude oil output thus will be doubled by 2011.

Author: Ksenia Kochneva