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