$100m Gas Deal Debate
TDT | Manama
Email: mail@newsofbahrain.com
A $100 million first-phase Jubah gas concession deal will be debated in Parliament on Tuesday, under an agreement between Bahrain, EOG Resources and Bapco Energies.
The project gives EOG a 51% stake while Bapco Energies holds 49%, with EOG fully covering initial exploration costs. Bahrain will receive a 10% royalty on profits and 46% in oil-related taxes.
The deal covers exploration of the Jubah and pre-Tawil reservoirs using advanced drilling technology, with early production results expected in 2026 if successful. Officials said the state retains full ownership of the fields, while the partnership is aimed at boosting exploration, investment, and local production without burdening the national budget.
The agreement also includes training Bahrainis, technology transfer, and prioritising local employment and suppliers. The parliamentary committee has recommended approval of the decree-law governing the deal.
Related Posts