Occidental, CNR Submit Bids for Bahrain's Deep Gas Exploration Project


A top governmental official in Bahrain said Thursday that Occidental Petroleum and Canadian Natural Resources have submitted bids to participate in the country's deep gas exploration project.

Head of Bahrain's National Oil and Gas Authority, Abdul-Hussain bin Ali Mirza told Reuters that the two companies launched official bids today which the governmental petroleum arm, as well as Bahrain Petroleum Company, will review before the deal is awarded by the end of the year.

With expectations to consume an estimated 2 billion cubic feet per day of gas in a span of 10 years, Bahrain plans to develop its onshore natural gas fields at a depth of up to 20,000 feet (6,096 meters) below sea level in an effort to meet this rising demand, reports Reuters.

In 2007, the Gulf island state consumed 1.3 billion cubic feet of gas per day and has discussed importing more gas with neighboring countries Qatar and Iran, Reuters noted.