Finance Minister: NOGA plans to develop attractive oil, gas sector

Manama: April 22 – (BNA): The Minister of Finance also the Minister In-charge of Oil and Gas Affairs Shaikh Ahmed bin Mohammed Al Khalifa affirmed that the Government represented by the National Oil and Gas Authority (NOGA) aims to develop the Kingdom's oil and gas production and attract more international companies to make Bahrain their regional operations hub. The Minister who patronized today the MEED Energy Forum2014 said that Bahrain provides all forms of support and facilitations to companies specialized in various fields, especially oil and energy-related services. He added that the MEED Forum is an ample opportunity to glean the requirements of international oil and gas firms and the best way to serve them more professionally in order for them to establish a solid foothold in the Kingdom. The Minister cited the openness of the Bahrain energy sector for more quality investment projects particularly as the Kingdom plans to boost the performance of this important sector. The Minister said that major specialized forums and conferences attended by multitudinous participants provide fertile ground to showcase the impressive image of our national economy and offer available investment opportunities locally as well as explore potentials for creation of joint ventures that serve oil and gas production and economization on energy consumption. In his inaugural speech, the Minister said that the MEED Energy Forum2014 provides full-spectrum image of the best visions and policies connected with the energy sector both regionally and internationally and helps the participating companies and experts keep up with latest developments of modern energy-related technology. The Minister said that the MEED Energy Forum this year coincides with the anniversary of the first crude oil shipment exported eighty years ago from Bahrain to Japan in 1934. The forum reflects the Government's keenness on providing all forms of assistance and facilitations to international functions hosted in the Kingdom of Bahrain, including functions pertinent to the oil and gas sector. The event is considerably significant for the regional and international oil industry as it constitutes an important point of convergence and sheds light on many relevant topics and issues related to the energy sector from the technical and the strategic perspective and an opportunity for effective interaction with a number of major oil companies in the region and the world. The form among other themes includes a discussion session with focus on energy supply and demand in Bahrain, review the MEED Company's comprehensive annual report and the challenges facing the implementation of colossal energy projects in the countries of the Gulf Cooperation Council (GCC). (IY)