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AN inaugural ceremony was held in Awali to launch Tatweer Petroleum, signifying a new phase of development for the Bahrain Oil Field.
It was held under the patronage of HRH Prince Salman bin Hamad Al Khalifa, the Crown Prince and Chairman of the Economic Development Board, who was present at the ceremony.
The Tatweer Petroleum flag was raised and a plaque unveiled at Oil Well No.1 at Jebel Dukhan in commemoration of this prestigious event.
The new phase of development for the Bahrain Oil Field is being led by Tatweer Petroleum, a joint venture operating company between NOGA (National Oil & Gas Authority), Occidental Petroleum Corporation and Mubadala Development Company (Mubadala).
Tatweer Petroleum is committed to assisting NOGA as it strives to achieve its vision: 'To be the oil and gas recognised leader, fueling economic growth and improving living standards.'
The inaugural ceremony was attended by senior officials including Dr Abul Hussain Mirza, Minister of Oil and Gas Affairs and Chairman of the NOGA, as well as Tatweer Petroleum management, representatives from Occidental Petroleum Corporation, Mubadala and NOGA.
Welcome speeches were made by three senior officials including; Dr Mirza, Dr Ray R Irani, Chairman and CEO of Occidental Petroleum Corporation and Khaldoon Khalifa Al Mubarak, CEO of Mubadala Development Company.
Tatweer Petroleum assumed the management of all upstream operations in the Field on 1 December 2009 and is using the latest recovery technology to more than double Bahrain's production capacity over the next 20 years.
Tatweer Petroleum will significantly increase drilling activity in the Field in order to meet the kingdom's rising demand for energy and increase revenues, thereby aiding the industrial and social development of the country.
The re-development of the Bahrain Field marks the beginning of an exciting new phase for the oil and gas industry in Bahrain and is aligned with the kingdom's Economic Vision 2030 to address the rising demand for energy in Bahrain's expanding economy.
