Manama, June 2 (BNA): His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa today issued Edict 10 of 2019 on allowing foreign capital companies to practice oil and gas drilling activities in the Kingdom of Bahrain.
Under the Commercial Companies Law, issued in accordance with Decree-Law 21 of 2001, the foreign capital companies are allowed to own 100% of the oil and gas drilling activities in the Kingdom of Bahrain, providing that the Parent Company have signed or in the process of sealing an agreement on the exploration and production of oil and natural gas with the government of the Kingdom of Bahrain.
The Minister of Industry, Commerce and Tourism shall implement this Edict. The Edict will take effect from the date following its publication in the Official Gazette.
BNA 1818 GMT 2019/06/02