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 have withdrawn from Tatweer Petroleum, a joint venture formed in 2009 to redevelop Bahrain oil field, according to press reports (OGJ Online, Nov. 10, 2009).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

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...