Bahrain 'open to joint ventures in oil exploration'

23/04/2014 07:25 AST

Bahrain is open to new joint ventures, especially in the fields of oil and gas exploration and downstream facilities, Finance Minister and Minister in charge of Oil and Gas Affairs Shaikh Ahmed bin Mohammed Al Khalifa said yesterday.

Delivering the keynote address at the MEED Bahrain Energy Forum 2014, that opened at the Crowne Plaza's Bahrain Conference Centre, Shaikh Ahmed said venture capital firms attending the conference could expect to receive valuable information and insights into Bahrain's investment outlook in the oil and gas, power and water sectors.

"The discussions and presentations will highlight GCC and global investor perceptions, perspectives, partnership experiences and prospects in joint venture projects," Shaikh Ahmed said.

The minister noted that the conference coincides with the 80th anniversary of the commencement of crude oil exports from Bahrain, and celebrates the kingdom's achievements in the hydrocarbon, power and water sectors.

"It is significant that three important aspects of the energy sector, opportunities and challenges in Bahrain's energy projects until 2030; the kingdom's continuing role as a regional and global energy centre; and the application of new energy management and technology, would be discussed.

"This is indeed the right venue for international investors to explore partnerships in upcoming energy projects, both within Bahrain and worldwide.

"With more than 100 international oil and gas companies, contractors, consultants, developers, service providers, law firms and investment firms taking part, this forum provides the right platform to discuss and complete joint ventures in energy sectors in the Mena region," he added.

"The conference will surely make delegates more aware of the importance of establishing the right energy efficiency policy at national levels the world over, including in producer countries."

The Gulf Today