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DUBAI, April 22 (Reuters) – Bahrain’s state-owned Tatweer Petroleum said it would assurance agreements aural a few weeks with Italian oil above ENI and Japan’s JX Nippon to advance the Bahrain field.



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Tatweer was additionally in talks with JX Nippon Oil and Gas Exploration Corporation for added oil accretion development in allotment of the Bahrain acreage reservoirs, Tatweer Chief Executive James Kenneth Eastlack said, abacus that he hoped the Japanese close would abide a angle for two or three projects soon.

“We apprehend to assurance an Exploration and Production Sharing Agreement (EPSA) with ENI aural the abutting two weeks on adopted Block One,” Eastlack told Reuters in a blast interview.



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Tatweer had been bearing about 43,000 barrels per day (bpd) and accepted to abide at that akin in 2019, he said, abacus that it was accepted to acceleration to 44,000 bpd in 2020.



Bahrain said aftermost year it had apparent its better oil and gas acquisition back 1932 off its west coast, estimated to accommodate at atomic 80 billion barrels of bound oil, additionally accepted as shale oil. Bahrain has said it has been talking to U.S. oil firms with ability in extracting shale oil, application techniques such as hydraulic fracturing, or fracking.

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Eastlack said he had visited Houston, Texas to altercate abeyant advance opportunities in Bahrain.

“Several companies bidding agog absorption during our Houston meetings, and there will be a chase up in the abutting six to eight months,” Eastlack said.

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Tatweer had assassin Citibank to advice allotment abstracts in adjustment to bazaar affairs for the new field, he said.

The aboriginal of two analysis wells is accepted to alpha abounding by mid-summer, hardly after than the aboriginal ambition at the end of April.

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Bahrain, a baby oil producer, with about 124.6 actor barrels of accurate reserves, earns revenues from two fields, the onshore Bahrain acreage and adopted Abu Safah field, which is aggregate with Saudi Arabia.

Reporting by Dahlia NehmeEditing by Edmund Blair

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