Bahrain will open maritime oil blocks to major international petroleum companies in early 2021.
Tatweer Petroleum announced the move which aims to attract major international firms to sign exploration and production sharing agreements. The company has finalised all technical and logistical preparations and procedures to open doors to international firms to invest in the blocks.
The move is based on results of advanced geological and geophysical surveys and exploratory well drilling operations. Tatweer Petroleum recently conducted an advanced aerial geological survey of large areas in Bahrain, which is considered one of the largest exploration projects, in addition to an advanced, high-resolution geophysical survey that included most marine areas.
The exploration team analysed and studied the results of these surveys, exploration wells information, regional information and published and approved scientific papers, with the help of major international consulting companies in the field of oil and gas exploration. These analyses resulted in the identification of some marine areas with a high probability of presence of oil and gas. Bahrain recently signed an exploration and production sharing agreement with the Italian international oil company Eni.
The firm will start drilling an exploration well in the northern offshore block No 1 in the first half of next year.It will be the first well that the company will drill in the Middle East after the halting and delay of drilling activities globally due to the outbreak of the coronavirus pandemic.
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