Foreign companies can now own 100% oil, natural gas extraction projects in Bahrain

Bahrain is to allow foreign companies to own 100 percent of oil and natural gas extraction projects in the Gulf state, under an order issued by Prime Minister Sheikh Khalifa bin Salman al Khalifa on Sunday, Bahrain News Agency reported.

To be eligible, the foreign parent company must have signed, or be in the final stages of signing, an exploration and production agreement with the government.

 

(With inputs from agencies.)