Bahrain, Occidental Oil Venture May More Than Triple Output

Bahrain’s venture with Occidental Petroleum Corp. and Mubadala Development Co. seeks to more than triple output capacity at the island nation’s oil field, the head of the kingdom’s energy investment holding company said.

The Bahrain field, the Middle East’s oldest producing deposit, has “a lot of potential” for expansion, Mohamed bin Khalifa Al-Khalifa, chief executive officer of Nogaholding, said today at a conference. Developments to tap more of the field’s reserves are “encouraging,” he said.