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The Awail oil field in Bahrain. Image Credit: Bloomberg

order issued by Prime Minister Shaikh Khalifa Bin Salman Al Khalifa on SundayCairo: Bahrain is to allow foreign companies to own 100 per cent of oil and natural gas extraction projects in the Gulf state, under an order issued by Prime Minister Shaikh Khalifa Bin Salman Al Khalifa on Sunday, Bahrain News Agency reported.

To be eligible, the foreign parent company must have signed, or be in the final stages of signing, an exploration and production agreement with the government.