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FINANCIAL NEWS
Gazprom set to enter Bahraini market
28 Oct 2010
(MENAFN) Bahraini Oil and Gas Affairs Minister Dr Abdulhussain Mirza has announced that Russian energy giant Gazprom is set to enter the oil and gas sector in Bahrain, Gulf Daily News reported.
Under a mutual cooperation agreement signed between Gazprom and National Oil and Gas Authority (Noga), the company will export natural gas to Bahrain as well as engage in oil and gas exploration in the country.
Dr Mirza, who is currently in a visit to the Russian capital Moscow, said that there were several other projects Gazprom and the authority were looking into to work together.
The minister had earlier said they plan to drill up to a depth of more than 15,000 feet in the search for gas. However, he said discussions now had focused mainly on the import of gas.
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