Occidental signs Bahrain deal
Manama, March 15, 2009
US firm Occidental signed a deal on Sunday to overhaul Bahrain's Awali onshore oilfield.
Occidental chief executive Ray Irani signed the initial deal, which officials said aimed to raise output at the field to 100,000 barrels per day (bpd) from about 35,000 bpd.
The field, discovered in 1932, was the first oil find on the Arab side of the Gulf.
Bahrain is a small oil producer. Aside from Awali output, the country also receives about 150,000 bpd of crude from Saudi Arabia, its share of output from the Abu Saafa oilfield.
Last year, Bahrain awarded a tender for offshore exploration to Occidental and Thailand's PTT Exploration and Production. - Reuters