Tatweer Petroleum

In December 2009, Tatweer Petroleum – Bahrain Field Development Company W.L.L. assumed responsibility for the stewardship and revitalization of the mature Bahrain Field and the execution of all activities related to the petroleum operations pursuant to the terms and conditions of the Development and Production Sharing Agreement (DPSA). The DPSA, dated 26th April 2009, entered into between the National Oil and Gas Authority (NOGA) and Occidental, Mubadala, and The Oil and Gas Holding Company (nogaholding).

As of July 2016, the Company is wholly owned by nogaholding, the business and investment arm of NOGA of the Kingdom of Bahrain, which acts as the steward for the Government’s investment in a diversified range of energy-related companies.

The Company’s primary goal is to increase the production of oil and the availability of gas to meet the future energy demands of the Kingdom of Bahrain, in line with the nation’s Economic Vision 2030.

Tatweer Petroleum utilizes the latest oil production and recovery technologies whilst upholding its commitment to the highest standards of health, safety and environmental protection, and the development of Bahraini nationals. This will support the Company’s contribution to energizing the Kingdom’s economic growth and social prosperity while maximizing value for stakeholders.

Despite the low oil prices, Tatweer endeavored to maintain production levels through the drilling of a further 66 new wells, targeting the Ahmadi, Mauddud, and Kharaib reservoirs, resulting in a total number of 949 new wells drilled since Tatweer Petroleum took over the Bahrain Field operations in 2009. Total oil and condensate production averaged 44,200 barrels per day, declining from 2016 production average of 48,500 barrels per day. This decline in production was mainly due to the steep drop of drilled wells in 2016, as well as planned and unplanned facility shutdowns. The production capacity of Non-Associated Gas was successfully maintained at 1.4 billion cubic feet per day, meeting the Kingdom of Bahrain’s average and peak demands for energy.

Tatweer’s steam pilots, the Mauddud Light Oil Steamflood (LOSF) and Rubble Forced Imbibition, remain functional and under monitoring for a final resolution on the way forward. Tatweer met with experienced service companies to explore potential joint collaboration models to tackle certain challenges in the Bahrain Field, such as heavy oil and tight reservoirs and is in the process of reviewing these models. Tatweer also continued further technical and assessment work with ongoing Rubble and Shallow Gas injection pilot projects.

A cost saving initiative was kicked off at Tatweer Petroleum in 2016 with a plan to engage all employees to maximize Company savings. Following its success for that year, the Company continued the initiative in 2017 with total identified savings equivalent to approximately 1,500 BOPD, taking into account the average oil price for that year.