Jan 20 2010 |
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HRH Prince Salman bin Hamad Al Khalifa Crown Prince and Chairman of the Economic Development Board Inaugurates the official launch of Tatweer Petroleum at a Commemorative Flag Raising Ceremony
Awali, Wednesday 20 January, 2010: Under the patronage of HRH Prince Salman bin Hamad Al Khalifa, Crown Prince and Chairman of the Economic Development Board an inaugural ceremony was held today in Awali to launch Tatweer Petroleum, signifying a new phase of development for the Bahrain Oil Field. HRH Prince Salman bin Hamad Al Khalifa Crown Prince and Chairman of the Economic Development Board was present at the ceremony while the Tatweer Petroleum flag was raised and a plaque unveiled at Oil Well No.1 at Jebel Dukhan in commemoration of this prestigious event.The new phase of development for the Bahrain Oil Field is being led by Tatweer Petroleum, a joint venture operating company between NOGA ( National Oil & Gas Authority ), Occidental Petroleum Corporation and Mubadala Development Company ( Mubadala ). Tatweer Petroleum is committed to assisting NOGA as it strives to achieve its vision: 'To be the oil and gas recognized leader, fueling economic growth and improving living standards.'
The inaugural ceremony was attended by senior officials including H.E. Dr. Abul Hussain bin Ali Mirza, Minister of Oil and Gas Affairs and Chairman of the National Oil and Gas Authority , as well as Tatweer Petroleum management, representatives from Occidental Petroleum Corporation , Mubadala and NOGA . Welcome speeches were made by three senior officials including; H.E. Dr. Abdul Hussain bin Ali Mirza, Minister of Oil and Gas Affairs, Dr. Ray R. Irani, Chairman and CEO of Occidental Petroleum Corporation and H.E. Khaldoon Khalifa Al Mubarak, CEO of Mubadala Development Company .
Tatweer Petroleum assumed the management of all upstream operations in the Field on 1 December 2009 and is using the latest recovery technology to more than double Bahrain's production capacity over the next 20 years. Tatweer Petroleum will significantly increase drilling activity in the Field in order to meet the Kingdom's rising demand for energy and increase revenues, thereby aiding the industrial and social development of the country.
The re-development of the Bahrain Field marks the beginning of an exciting new phase for the oil and gas industry in Bahrain and is aligned with the Kingdom's Economic Vision 2030 to address the rising demand for energy in Bahrain's expanding economy.
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About Tatweer Petroleum
Tatweer Petroleum is a joint venture operating company comprised of The Kingdom of Bahrain Oil and Gas Holding Company (nogaholding),
Occidental Petroleum Corporation
and
Mubadala Development Company
. The company was formed to increase oil and gas reserves and extend the life of the Bahrain Field through a new phase of development. Tatweer Petroleum is committed to safeguarding the environment, protecting the safety and health of employees and neighboring communities and upholding high standards of integrity and social responsibility.
For media information and enquires please contact:
Maheen Ali
Gulf Hill & Knowlton
Tel +973 39601923
Fax: +973 17533370
Email: Maheen.Ali@hillandknowlton.com
Imane Alalaiwat
Gulf Hill & Knowlton
Tel +973 17539504
Fax: +973 17533370
Email: Imane.Alalaiwat@hillandknowlton.com
© Press Release 2010
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