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The Silicon Review Asia

Investors Invited; Bahrain to sell energy assets to balance its budget

Investors Invited; Bahrain to sell energy assets to balance its budget

A state-run fund could be started to move some of Bahrain’s energy assets into the fund and later shares of it could be sold to investors. Gulf countries are now opening up increasingly to foreign investments, as a way to boost the state income. 

Mohammed Bin Khalifa Al Khalifa, Oil Minister has made statements indicating the country’s efforts on projects that would allow the nation to welcome foreign investments into its energy sector. The minister told that nothing is not for sale anymore, keeping in mind the sale of a stake in national oil company Saudi Aramco, one of the largest companies in the world. Al Khalifa further spoke about the proposed fund and how it would benefit the nation. The oil and gas sector in Bahrain, previously untouched by foreign money, will now open up and act as a channel for private investors to enter the sector.

According to the Oil Minister, the Khaleej Al Bahrain shale oil and gas deposit, which was discovered in 2018, is now hosting test wells for oil production. The deficit of Bahrain has narrowed down in 2019 to 4.7 percent of economic output from 6.3 percent a year earlier, according to the country’s Finance Ministry. Later, this year a roadshow could be organized to invite investors. International oil companies would be invited to sign deals to produce at three new offshore gas blocks.

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