Occidental Petroleum Selected for the Onshore Deep Gas Exploration Program

摘要

Following the tender issued in 2009, Occidental Petroleum has been selected as main contractor for the onshore deep gas exploration program (AOG, 1 April and 16 June, 2009). The new wells to be drilled at the Bahrain field will be taken down to depths of up to 20,000 feet, explained the Minister of Oil and Gas, Mr. Abdul Hussein Mirza, who is also Chairman of the National Oil and Gas Authority (NOGA). Occidental will shoulder 100% of the cost of drilling operations during the first seven years of the program, and Mr. Mirza told the Gulf Daily News that the cost could amount to $100-200 million during that period. He explained that the agreement just signed was a framework agreement that was due to be finalized in a few months' time, after negotiations on the main terms and conditions.