Bahrain is set to receive an initial $2 million with the production commencement at a newly discovered oil and gas field off the northern coast.
Data from the National Oil and Gas Authority (NOGA) showed that gas production has increased in Bahrain by about 12.4%.
Bahrain liquefied natural gas (LNG) import terminal has delayed its operations to start in Q3 2019, according to Teekay LNG Partners.
Signing the EPSA agreement, that follows a joint study led by Eni in 2016, Eni will be responsible for the block’s exploration activities.
Under the agreement, the fund will help achieve economic diversification and development within Bahrain.
Saudi Aramco and Bahrain plan to conduct a feasibility study on boosting oil output, benefiting from Aramco’s produced carbon dioxide.
Bahrain’s National Oil and Gas Authority (NOGA) has signed a memorandum of understanding (MoU) with Italy’s giant Eni for exploring Block 1 in Bahrain.
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