Bahrain to allow foreign companies to take 100% stakes in oil, natural gas extraction projects -news agency

by Reuters
Sunday, 2 June 2019 17:42 GMT

CAIRO, June 2 (Reuters) - 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.

(Reporting by Nayera Abdallah; Editing by Susan Fenton)

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