Agreement signed to explore new potential oil field north of Bahrain

Following the successful exploration at Khalij Al Bahrain Basin, which yielded Bahrain’s largest oil and gas find, another field situated in the north of Bahrain will be explored. An agreement has been reached over petroleum exploration of Block 1, an offshore area of over 2,800 square kilometres.

A Memorandum of Understanding (MoU) was signed yesterday between the National Oil and Gas Authority of the Kingdom of Bahrain (NOGA) and Eni to document the intention to pursue petroleum exploration. Block 1 is situated in the northern territorial waters of the Kingdom with water depth ranging from 10 metres up to 70 metres. The signing was between Shaikh Mohammed bin Khalifa Al Khalifa, Minister of Oil and Eni’s CEO Claudio Descalzi, in the presence of a number of officials from NOGA, the oil and gas holding company (noga holding), Tatweer Petroleum – Bahrain Field Development Company and a number of executives from the oil and gas industry.

During the meeting, Minister of Oil praised the leadership led by His Majesty King Hamad bin Isa Al Khalifa and the prominent role played by the Higher Committee for Natural Wealth and Economic Security, chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander, First Deputy Prime Minister “Eni is delighted with the signing of the MoU and the opportunity to explore the potential of Block 1 and that the MoU and the exploration in Block 1 will allow Eni to start co-operating and investing in a country that was one of the first in the Gulf to produce oil and which now aims at unveiling its offshore potential.