Occidental Petroleum Corp said Tuesday that it had formed a partnership with entities in Bahrain and United Arab Emirates to run a Bahrain oil and natural gas field.

The partnership, called Tatweer Petroleum-Bahrain Field Development Co., will operate under an production agreement among Occidental, the United Arab Emirates’ Mubadala Development Co and the National Oil and Gas Authority of Bahrain. The production agreement, in which Occidental holds a 48 percent stake. was announced last spring.

Tatweer will begin operating immediately, Occidental said, with oil production expected to peak at 100,000 barrels per day and natural gas production of 2.5 billion cubic feet per day.

“Tatweer Petroleum further expands our presence in the region and is a key element of our growth strategy for the Middle East,” Chief Executive Ray R. Irani said in a statement.

Shares closed up $1.12, or 1.4 percent, to $84.17 on the New York Stock Exchange.