PTTEP, Oxy awarded blocks off Bahrain

Thailand's PTT Exploration & Production PLC has won the bid for Block 2, a 2,228-sq-km tract off northern Bahrain that is said to have to have oil potential.

By an OGJ correspondent
BANGKOK, Oct 16 -- Thailand's PTT Exploration & Production PLC (PTTEP) has won the bid for Block 2, a 2,228-sq-km tract off northern Bahrain that is said to have to have oil potential.

The formal awarding will take place following negotiation and formulation of an exploration and production-sharing agreement with Bahrain's National Oil and Gas Authority, PTTEP said.

PTTEP will serve as operator with a 100% participation interest.

Separately, Occidental Petroleum Corp. won the bid for two other blocks off Bahrain, while Russia's state-owned Zarubezhneft, a third contender, was unsuccessful for the fourth offshore block, which was offered for right holdings.

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