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Russian Gazprom Enters Bahrain Oil and Gas Sector

Bahrain : 29 October

The expansive energy firm Gazprom of Russia is set up to join the oil and gas industry in Bahrain, according to Dr Abdulhussain Mirza, the nation’s Oil and Gas Affairs Minister.

The National Oil and Gas Authority (also known as NOGA) came to an agreement with the Russian giant Gazprom that sees the firm exporting natural gas into Bahrain and tackling exploration initiatives within the nation as well.

While in Moscow, Dr Mirza stated a number of other projects are being looked at or are in the works between Gazprom and NOGA.

Mirza stated that the details will be finalized shortly.

The start of the agreement mainly sees the Russian firm exporting gas into Bahrain, in the form of natural gas among others.

A pipeline running between the two nations is something that is possible over the long term.

Dr Mirza is the chairman of NOGA and noted that Gazprom has shown great interest in drilling for gas throughout Bahrain.

As the authority plans to continue drilling deeper for gas, the experience and capabilities of well-known firms is an important tool to utilize.

It was stated earlier that plans to drill for gas over the 15,000 foot mark are in place.

The discussions have now moved to importing gas, as stated by the Minister.

On a four day excursion to Russia, Dr Mirza reported that the meeting with the chief executive officer of Gazprom Alexei Miller was very successful.

The chief executive of Bapco Faisal Al Mahroos was also at the meeting, along with other officials from NOGA.

It was reported that discussions around bi-lateral cooperation within the energy sector and joint ventures within the oil and gas industries took place.

An official from Gazprom confirmed that these prospective bi-lateral cooperation projects are being looked at.

The partnership between NOGA and Gazprom on the Bahrain oil and gas projects is being given special attention.

Shaikh Mohammed bin Khalifa al Khalifa, the general manager for Bahrain National Gas Company, stated that plans to drill gas wells totaling $200 million are under way.  These eight wells are needed to meet the additional demand in Bahrain that will occur over the next five years.

Andrew Reid, Staff Writer, Gulf Jobs Market News
28 October

Saudi Aramco Obtains Additional Financing for Joint Venture with Total

Reports state that Saudi Aramco, along with their partner Total of France, has finalized a loan agreement deal for $1.3 billion US.  This financing from the Saudi Public Investment Fund is the latest development in the joint venture oil refinery project.
The Jubail-based plant is set to produce 400,000 barrels per day and falls right in [...]

12 October

Saudi Arabia Wants to Be Rated the Top Petrochemical Producer

SAOGA 2010 finds leaders in government and business working with local and international oil and gas professionals to reach Saudi’s goal of becoming a lead player in the petrochemical production business.
It makes perfect sense that Saudi Arabia would reach for this goal.  Although the enormous petroleum resources of the nation are shipped away in stabilized [...]

11 October

Masdar City Won’t be Powered only by on-Site Renewable Energy – The Project to be Delayed

Conclusions of the thorough review covering the UAE’s sustainable development at Masdar City were recently released.  Constructed just outside of Abu Dhabi, Masdar City is an ambitious clean technology center.
The review commenced early in the year and was put in place to ensure current market conditions and technological developments kept the master plan up to [...]

05 October

China to Import 50 Million Tons of Oil From Saudi Arabia This Year

This year Saudi Arabia will import 19 per cent more oil to China over last year’s figures, according to the Saudi Press Agency.
The largest global crude exporter will pump 50 million metric tons of crude into China this year, as compared to 41.95 million tons in 2009.  These figures were drawn from the Chinese ambassador [...]

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