Bahrain may 'play key role in tech development'
Manama, June 1, 2010
Bahrain could play an important role in developing the technology to increase the production of heavy oil in the region through its creation of Tatweer.
The joint venture between the National Oil and Gas Authority, Occidental Petroleum and Abu Dhabi-based Mubadala Development Company aims to tap into heavy oil in the Bahrain Field that will see production increase from some 32,000 bpd to 100,000 bpd.
But the technology developed to reach these resources could play a role in the development of heavy oil across the region, according to Bapco chief executive officer Faisal Al Mahroos.
Speaking on the sidelines of the conference, he said that Bahrain's lead in developing its relatively small field could offer opportunities for Tatweer to provide technology elsewhere in the region as more countries expanded their heavy oil recovery operations.
'There is something like 1,000 billion barrels of heavy oil across the region which effectively doubles the existing light oil resources that we can turn into reserves,' he said.
'That can be a major boost to the region's oil reserves and what we are doing now in partnership here in Bahrain can help to develop the technology to access these resources.
'This is the first heavy oil conference that has been held in the region and while we do not expect this to be developed quickly it is certainly a major fore for the future as the technology develops which allows us to access resources that were previously technologically and economically beyond us,' he said.
'The fact that this first regional conference has been hosted here in Bahrain is a reflection of our importance and a centre in the region's hydrocarbon industry,' he added.-TradeArabia News Service