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.