Bahrain Oil Investments Hit $8 Billion

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Oil investments in Bahrain have reached $8 billion over the past few years, Oil Minister Shaikh Mohammed bin Khalifa Al Khalifa said on the sideline of the 5th Middle East Process Engineering Conference and Exhibition (MEPEC 2019).

The National Oil and Gas Authority (NOGA) has signed an exploration and production agreement with Italian company “Eni”, which is expected to start drilling bloc (No 1) of the first oil well in the northern maritime by the end of this year or early next year, the minister said.

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He said that the oil and gas development projects include Banagas expansion project, LNG terminal project, oil pipeline project, Bapco expansion project and airport tanks project.

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