Occidental Petroleum Corp (OXY) and Bahrain have come to agreements that would allow OXY to explore for gas. For now, the project is being funded by OXY in hopes they will find gas by drilling three exploration holes during the first four years of a seven year deal.
If gas is found, OXY and Bahrain will work out a deal to share the findings and development.
To read the full article, please visit Bloomberg.
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