In an unprecedented step in the region, Bahrain announced on (June 2, 2019) allowing foreign companies to own 100% in projects of natural oil and gas extraction inside the country.

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.

Bahrain's liquefied natural gas (LNG) terminal will start commercial operations in May, with the first LNG shipment to be imported mostly from the UAE's ADNOC, state media quoted the CEO of Bahrain's National Oil and Gas Authority (NOGA) as saying.

The production process of the first shale oil well in Bahrain will begin next April or May, said a Tatweer Petroleum official.