Tatweer Petroleum Company, the ambitious new oil venture of Bahrain, discussed several organisational issues as well as the audit plan at the company's board of directors meeting.

Tatweer is a joint venture between National Oil and Gas Authority Holding (Noga holding), Occidental Petroleum Corporation and Mubadala Development Company.

Energy Minister and Noga chairman Dr Abdulhussain Mirza chaired the seventh meeting of the board with representatives from Occidental, Mubadala and Nogaholding companies at Tatweer Petroleum Company main office.

The meeting highlighted the rising oil output level at Tatweer Petroleum Company. It also approved the enterprise risk management project that was proposed for the company.

The board was then updated on company operations, including the increasing level of oil production and other corporate matters.

Dr Mirza hailed the progress Tatweer has made so far during the first half of the year.

The board congratulated the company on the successful implementation of the first stage of gas compression project, which started in April and consequently its gas management initiatives aimed at controlling associated production.

Dr Mirza thanked His Majesty King Hamad, His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa and His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Economic Development Board chairman for their continued support to the petroleum industry in the kingdom.

The minister also thanked the executive management and employees of Tatweer Petroleum Company for their dedication and hard work.-TradeArabia News Service