Oleh/By  	:	DATO SERI DR MAHATHIR BIN MOHAMAD
Tempat/Venue	:	MANAMA, BAHRAIN
Tarikh/Date	:	21-04-2002
Tajuk/Title 	:	THE OFFICIAL OPENING OF PETRONAS' 
			BAHRAIN OFFICE
Versi 		:	ENGLISH
Penyampai	:  	PM 
		    

 
     First  of  all,  I would like to thank  PETRONAS  for
   inviting me to officially open their Bahrain Office.  I
   am  delighted that PETRONAS has once again successfully
   spread  its wing into a new frontier, this time  making
   its entry into an Arab Gulf State.
   
   2.     PETRONAS'  maiden involvement in  Bahrain's  oil
   and  gas  industry signifies yet another  milestone  in
   the  bilateral relation between Malaysia  and  Bahrain.
   The  signing of the Exploration and Production  Sharing
   Agreement for Blocks IV and VI between the Ministry  of
   Oil  of  Bahrain  and PETRONAS in  Kuala  Lumpur  on  1
   November  last year has undoubtedly paved the  way  for
   greater Malaysian investment in this island kingdom.
   
   3.     We  are  indeed pleased that the  Government  of
   Bahrain  has  decided to award the  production  sharing
   contract  for the two offshore blocks to the  Malaysian
   National    Oil   Corporation   following   a    highly
   competitive  international bidding. More meaningful  is
   the  fact  that  PETRONAS has been  assigned  the  sole
   operatorship with a 100% equity for each block.   This,
   I  believe,  is  a manifestation of the high  level  of
   confidence  and  trust that the Government  of  Bahrain
   has  in PETRONAS based on its remarkable reputation and
   proven track record.
   
   4.     Malaysia and Bahrain actually shares a number of
   similarities.  Both  have always been  trading  nations
   and  both  are  strategically located. In  the  earlier
   days, Bahrain was known for its pearl industry and  its
   skilled  craftsmen.   Its  fortune  changed  with   the
   discovery of oil in 1932. Malaysia, on the other  hand,
   survived on agriculture and mining; exporting  most  of
   the  commodities in its raw form.  After oil was  found
   offshore  Terengganu  in the East Coast  of  Peninsular
   Malaysia  in the 1970s, Malaysia has gradually  shifted
   the   focus   of   its  economy  from   agro-based   to
   manufacturing   and   industrialisation,    with    the
   petroleum  sector  functioning  as  one  of  the   main
   engines of growth.
   
   5.     Both national oil companies, BAPCO and PETRONAS,
   have  played, and I believe will continue  to  play,  a
   major   role  in  national  development.  I  hope   the
   relationship  that  has been forged between  these  two
   NOCs will be further strengthened with the presence  of
   PETRONAS  here. I suppose it would not be  far  fetched
   to  expect a partnership or strategic alliance  between
   both   NOCs  in  future,  leveraging  on  the  combined
   strengths,  experience  and  expertise,  resulting   in
   investment  stretching  beyond  the  shores   of   both
   countries.
   6.     On the part of the Malaysian Government, I would
   like  to  assure you that we will continue to encourage
   and  extend support to our private sector to invest  in
   Bahrain.  Until  the  end of last year,  the  value  of
   direct  trade between our two countries was  in  favour
   of  Bahrain,  with  total trade amounting  to  RM234.36
   million  (22.32  million Bahrain dinar)  in  the  first
   three quarters of 2001.
   
   7.     In  efforts  to  boost trade  relations  between
   Malaysia  and Bahrain as well as its neighbouring  Gulf
   nations,  we  have  sent  a  delegation  to  Manama  in
   February  this year to work on the establishment  of  a
   Malaysian  Trade  Centre in this country.  An  area  of
   70,000 sq metres at Durrat Al Bahrain in Seef has  been
   earmarked for the site of this trade centre which  will
   be  used  to  market Malaysian products in Bahrain  and
   its   neighbouring  countries.  On  the  drawing  board
   include  plans  to  construct other facilities  to  re-
   export Malaysian-made goods in the Middle East.
   
   8.     I  was informed that the Bahrain Government  has
   agreed    to   provide   the   necessary   legal    and
   infrastructure  services  required  to   realise   this
   project.  According to schedule, the  trade  centre  is
   expected  to  be  operational by early 2004.  With  the
   setting  up  of  the  trade  centre  and  the  upstream
   activities  of  PETRONAS,  the  economic  ties  between
   Malaysia  and the Gulf state are poised to be stronger.
   Notwithstanding  these  two activities,   Malaysia  and
   Bahrain  are  also set to forge closer co-operation  in
   Islamic  finance  and  banking  as  reflected  by   the
   Memorandum  of  Understanding signed  between  the  two
   countries  during the visit of Bahraini Prime  Minister
   His  Excellency  Shaikh Khalifa  Salman  Al-Khalifa  to
   Malaysia  last  year. Another MOU,  signed  early  last
   year,  provided the avenue for Malaysian  companies  to
   participate  in  Bahrain's new USD $500 million  Salman
   Port  project.  Indeed, Bahrain offers many  investment
   opportunities  to Malaysian businessmen and  companies,
   from the oil and gas-related activities to banking  and
   finance and to a wide range of construction works.
   
   9.     Before  I conclude, I would like to  once  again
   record my appreciation to PETRONAS for inviting  me  to
   this   momentous   occasion.   I   believe   that   the
   establishment of PETRONAS Office in this National  Bank
   of  Bahrain  Tower,  a  prestigious  landmark  in  this
   capital  city,  will  enhance not  only  the  image  of
   PETRONAS  but also Malaysia in this part of the  world.
   More  importantly, the opening of the office reinforces
   the  commitment  of  PETRONAS  and  certainly  Malaysia
   towards  a long term presence and a mutually beneficial
   relationship    with   Bahrain.    With    the    verse
   Bismillahhirrahmannirrahim, I  hereby  officially  open
   the PETRONAS Bahrain Office.
   
   Thank you.

   Sumber : Pejabat Perdana Menteri