Mubadala, Oxy withdraw from Bahrain venture

Mubadala Petroleum and Occidental Petroleum Corp. have withdrawn from Tatweer Petroleum, a joint venture formed in 2009 to redevelop Bahrain oil field, according to press reports (OGJ Online, Nov. 10, 2009).

The remaining Tatweer shareholder, Nogaholding, owned by the Bahraini government, owns about half of Tatweer.

According to Mubadala Petroleum, owned by the government of Abu Dhabi, Tatweer drilled more than 780 wells and refurbished and added production equipment and gas and water-handling facilities to boost output rates to 44,400 b/d of oil and 2.3 bcfd of natural gas by yearend 2014 from 26,100 b/d of oil and 1.6 bcfd of gas when it began work.

Bahrain field, discovered in 1932, earlier was known as Awali field.

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