Bahrain Eyes Major Oil Output Boost

The country's oil supreme has claimed that Bahrain Oil Field's daily output could exceed to 70,000 barrels within five years.

'More than US$1.6 billion will be invested in the five-year energy strategic action plan,' Oil and Gas Minister and National Oil and Gas Authority Chairman Abdulhussain Mirza said.

He was speaking as he chaired the first meeting of the administrative committee in charge of supervising the development of Bahrain Oil Field.

He also announced that more than 600 new oil wells would be drilled in the next five years, with 17 new oil wells and four gas wells scheduled to be drilled in 2010 alone.

Under the action plan, Bahrain's gas production is expected to soar to 2.6 Bcm.

Mirza said that Bahrain's oil and gas reserves are sufficient for the next 100 years.

'The search for alternative sources of energy does not mean that these reserves will run out in the near future,' he said. - Trade Arabia