Talking Points
VISION
Energizing growth and prosperity for Bahrain by:
- Meet Bahrain future demand for energy
- Transfer technology and skills to develop Bahrain’s workforce
- Be a recognized leader in the revitalization of mature oil & gas fields.
- Align with the Kingdom’s Economic Vision 2030
MISSION
To maximize the oil and gas production in the Bahrain Field in a safe and environmentally responsible manner.
WHO WE ARE
Tatweer Petroleum replaced Bapco as the operator of the Bahrain Field.
- Nogaholding
- Occidental Petroleum Corporation (Oxy)
- Mubadala Oil & Gas
HIGHLIGHTS
- Tatweer Petroleum is planning to double the Kingdom’s oil production in the next five years.
- The current oil production is 40,000 bpd is the highest production rate achieved in 26 years.
- Tatweer will continue meeting Bahrain’s natural gas demand requirements during 2010 and will continue to do so for many years to come.
- Prudent investment and stewardship of Bahrain’s national resource. Shareholders shall invest U.S. $750 million in field development & operation by end 2011.
- Provide employment and economic growth to the people of Bahrain, 624 current employees 63% are Bahrainis, 200 new professional and skilled jobs will be added during 2011.
- Transfer key technology, training and new job skills to the Bahrain workforce, application of steam and water flooding technology to enhance production.
- Providing more than 50,000 hours of training for Tatweer employees and secondees during 2010, and more than 70,000 hours of training during 2011.
LOOKING AHEAD TO 2012
- Expedite the revitalization of the Bahrain Field to support the sustainable energy policy of the Kingdom of Bahrain.
- 160 new oil and gas wells will be drilled by the end of 2011, this the highest rate of drilling ever achieved in the Kingdom of Bahrain.
