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Bahrain to pump $6bn into oil exploration

Manama, June 3, 2008

More than $6 billion will be spent on exploring and developing oilfields in the next 20 years, said Oil and Gas Affairs Minister and National Oil and Gas Authority (Noga) chairman Dr Abdulhussain Mirza.

Three firms have been shortlisted for conducting the process, Dr Mirza told our sister paper Akbhar Al Khaleej.

Meanwhile, Noga has completed designs of its new 50-storey headquarters building near Bahrain Financial Harbour. The land for the project was donated by His Majesty King Hamad.

The Work on the building is expected to be completed in 2012.-TradeArabia News Service




Tags: Bahrain | Oil exploration | Spend |

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