Vast opportunities awaiting American oil and gas majors in Bahrain’s fast expanding energy sector were highlighted at a forum in the US.
More than 100 leading US oil and gas companies took part in the ‘Oil and Gas Forum’ in Houston, Texas, organised by the American Chamber of Commerce Bahrain (AmCham Bahrain), in co-operation with Nogaholding.
A high-level Bahraini delegation attended the conference and B2B meetings that aimed to attract partners and investment for Bahrain’s energy sector.
Bahrain recently announced a new tight oil discovery off its coast estimated to be its biggest ever find.
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The delegation was led by Oil Minister Shaikh Mohamed bin Khalifa Al Khalifa.
He was joined during the two-day visit by senior US and Bahraini officials, the management of AmCham Bahrain and industry leaders and decision makers from Bahrain’s energy sector.
The event consisted of an all-day forum, a breakfast roundtable with the bilateral chamber of commerce as well as one-to-one B2B meetings with US companies.
Among the companies that took part were leading US oil and gas services companies with expertise in unconventional and shale oil extraction, companies with expertise in drilling, offshore support and logistics providers and related bankers and investors in the sector, all of which can benefit from the significant development and investment opportunities that Bahrain is currently offering in both offshore and in-field development.
Speakers from the delegation also addressed the Houston oil community on the substantial recent discoveries in the kingdom as well as ongoing and planned projects for which Bahrain is seeking participation and partnership from US companies.
The forum looked at opportunities in conventional and unconventional exploration and extraction of high-quality shale oil reserves, drilling of approximately 100 wells per year; and other projects related to the multi-billion Bapco investment, including refinery expansion, modernisation and the increasing of crude processing capacity, together with further downstream opportunities in petrochemicals allocated with the refining investments.
Shaikh Mohamed stressed the importance of strengthening co-operation with leading US oil and gas companies to discuss the significant opportunities for partnership that exist as Bahrain moves swiftly forward with projects to develop existing resources and the sizeable new finds.
“Co-operation between US firms and Bahrain in the oil and gas sector dates back nearly 100 years and we look forward to leveraging this long history to establish new partnerships,” he said.
“It is our belief that US technologies in the field of oil and gas exploration, service provision, logistical support and complementary industries are second to none in the world. With this visit, we are seeking co-operation with industry leaders in Texas and other energy centres around the United States,” the minister said.
“The opportunities being presented and the co-operation being sought from companies in Houston and those located elsewhere throughout the US can result in shared benefits for all parties,” AmCham Bahrain president Qays Zu’bi said.
The delegation also visited Washington where they met the US Chamber for a networking and oil and gas briefing session with top company representatives from the sector.
