An Interim Agreement (IA) and Framework Agreement (FA) has been signed by Bahrain’s oil and gas Authority (Noga) and US-based Occidental Petroleum (Oxy) at this year’s Middle East Oil Show (MEOS) in Bahrain.
The agreement will see the two, including Abu Dhabi’s business development and investment firm Mubadala, developing Bahrain’s historic onshore oil field, first discovered in 1932.
“This cooperation between Oxy, Mubadala and Noga will hopefully result in significantly increasing the daily oil and gas production levels and at the same time add many hundreds of millions of oil barrels and trillions of cubic feet of natural gas to the Bahrain Field,” said Dr Abdul-Hussain bin Ali Mirza, Minister of Oil and Gas Affairs and chairman of Noga.
Another highlight from MEOS ’09 was the launch of Schlumberger’s Deeplook-EM enhanced reservoir imaging and monitoring service.
“Deeplook-EM and our recently acquired Z-Seis Croswell seismic bride the resolution gap between well logs and surface measurements to provide customers with answers at the reservoir scale,” said Colin Hulme, technical director, Deep Reading, Schlumberger.
MEOS 2009 had over 290 companies exhibiting from 35 countries covering the entire spectrum of the upstream oil and gas industry.
International oil companies (IOCs) exhibiting included ExxonMobil, Chevron, Schlumberger Baker Hughes, Halliburton and Weatherford amongst others; while GCC national oil companies included ADNOC, BAPCO, Kuwait Oil Company and Saudi Aramco.
“With a rich technical programme and a comprehensive exhibition, companies and delegates alike can utilise this forum to learn about future global oil demand, forge strong relationships, share expertise and knowledge, and create new technologies for exploration and production,” commented Waleed Refaay, regional director, Society of Petroleum Engineers (SPE).
