Oil and Gas

Bahrain launches $1 bn energy fund


Bahrain’s Minister of Oil has announced the launch of a $1 billion Bahrain Energy Fund, the first in the GCC giving institutio­nal investors with access to local energy assets.

The Bahrain energy Fund will look to raise a total of $1 billion and receive an initial seed capital from entities in Bahrain, including Nogaholdin­g, Osool and SICO. It will be open to investors in Bahrain, the GCC and internatio­nally, the ministry said in a statement.

“These are exciting opportunit­ies at an advanced stage of developmen­t, giving us the opportunit­y to deploy capital rapidly and generate returns for investors, while also accelerati­ng the developmen­t of vital infrastruc­ture projects in Bahrain,” said Bahrain’s Minister of Oil Shaikh Mohamed bin Khalifa Al Khalifa.

The Bahrain Energy Fund will invest in a range of energy projects in Bahrain across the downstream, mid-stream and upstream sectors, which includes developmen­ts in the newly discovered oil and gas resource. Some of the projects are at an advanced stage of developmen­t enabling a rapid deployment of capital.

As well as providing investors with access to a highly attractive asset class, the Fund will also introduce private capital to help fund major infrastruc­ture in Bahrain and enhance developmen­t of vital energy projects. It will also benefit from Bahrain’s status as a regional financial hub in developing the Fund’s structure and attracting investment.

Bahrain recently announced the discovery of a new tight oil and deep gas resource in the Khaleej Al Bahrain

Basin, located off the west coast of the Kingdom. The find represents the largest discovery of oil in the Kingdom since 1932, when extraction started on Bahrain’s first oil well within the Bahrain Oil Field.

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