Bahrain extends deadline
Posted: 30 October 2007
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Bahrain has extended the deadline to submit tenders to redevelop its onshore Awali oilfield from October 17 to October 31, two weeks after its initial deadline was set.
Bahrain oil and gas minister told Pipeline that bidders for the Bahrain Field Phased Development Project asked more time to prepare their bids in accordance to the National Oil and Gas Authority’s requirements.
Initially, 18 oil companies have expressed interest to bid for the project, however, owing to the requirements. However only 11 have signed a technical evaluation agreement with Bahrain Petroleum Company (Bapco) to carry out required technical studies
“Due to the size of the project, some of the smaller oil companies and those unable to carry out the required study, have not proceeded with the bidding process,” Abdul-Hussain bin Ali Mirza said in an e-mail statement to Pipeline.
P participating companies are in a mixed portfolio of major international oil companies and independent oil companies, he added.
“All these companies have met the set technical and commercial requirements and have undergone a screening process conducted by Bapco and a specialist reputed consultant,” Mirza said. “We will find out how many of them will bid by October 31.”
The latest tendering round comes after the recently concluded bidding for four offshore exploration blocks in a bid to tap undiscovered potential of Bahrain 's entire explorable acreage.
US firm Occidental (Oxy) and Thailand 's PTT Exploration and Production Plc won a tender for the exploration project. Occidental won exploration rights for two exploration blocks.
PTT will operate Block 2, located offshore in the north of Bahrain and covers about 2,228 square kilometres. Bahrain - where the first oil field in the Gulf was developed - aims to step up exploration efforts to revive its former glory.
All of Bahrain 's 125 million barrels of onshore proven oil reserves are located in the Awali field. Bahrain hopes output can be doubled from the field, which produced about 35,000 barrels per day (bpd) in 2006 which has seen its peak of 75,000 barrels per day in 1970s. |
