Bahrain Invites Bids On Offshore Oil

Washington DC
October 16, 2006

In 2001, the International Court of Justice resolved an international dispute between Bahrain and Qatar, awarding sovereignty of the Hawar Islands to Bahrain. Today, Bahrain is exploring for oil in that area of the Gulf of Bahrain, which was opened upon the court’s decision.

In 2001, two blocks off the southeastern coast of Bahrain were awarded to Petronas, a Malaysia company, and another to ChevronTexaco. The Calgary-based EnCana Corporation has become involved in offshore exploration. Thailand’s PTT Exploration and Production Company also received exploration rights in 2005.

“This development demonstrates a number of attractive features about the Bahraini economy,” commented Ambassador Belooshi. “First, our commitment to the rule of law, and second, the breadth of economic opportunities in Bahrain. There are exciting things happening in Bahrain.”

For further information, please contact the Office of the Economic Representative via e-mail info@bahraingateway.org or by telephone at (202) 537-7810.