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Partnership formed to run Bahrain field
- Bahrain: Wednesday, November 11 - 2009 at 09:43
Abu Dhabi's Mubadala Development Co, the National Oil and Gas Authority of Bahrain and US-based Occidental Petroleum Corp have formed a partnership to run an oil and natural gas field in Bahrain, Reuters has reported. Tatweer Petroleum-Bahrain Field Development Co will begin operating Bahrain Field immediately, and oil production is expected to peak at 100,000 barrels per day with natural gas production of 2.5 billion cubic feet per day. Under the terms of the agreement, Occidental holds a 48% stake, with Mubadala holding 32% and the Bahrain oil and gas authority holding the rest.
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StaffWednesday, November 11 - 2009 at 09:43 UAE local time (GMT+4)
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