Agreement Approved for Italy’s Eni to Explore, Invest in Bahrain Bay Oilfield
2019-12-17 - 8:28 p
Bahrain Mirror: The Shura Council approved on Sunday (December 15, 2019) an agreement between the National Oil and Gas Authority (NOGA) and Italian firm Eni for oil exploration and production.
Thus, the Bahraini legislative authority, with its both chambers - the Parliament and Shura, has ratified the agreement under which Bahrain will begin investing the discovered reserves of oil and gas in the Bahrain bay oilfield.
Bahrain had announced in April 2018 the discovery of the Bay oilfield, which boasts the Kingdom's largest gas and oil reserves, estimated at around 80 billion barrels of oil and 20 trillion cubic meters of gas.