Manama, Nov 27 (IANS): A new oil pipeline was launched on Monday during a ceremony that was attended by leaders from Bahrain and Saudi Arabia.

Bahrain's King Hamad praised strong ties between the two countries as he launched the AB-4 pipeline to celebrate over 70 years of bilateral energy cooperation, Xinhua news agency reported.

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud also attended the event.

The new 112-km long AB-4 oil pipeline has a capacity of over 350,000 barrels of crude oil per day, which will replace the existing 73-year-old pipeline system.

The new oil pipeline starts from Saudi Aramco's Abqaiq Plants and finish at the Bahrain Petroleum Company (Bapco) Refinery in Bahrain.

"Bahrain cherishes the strong historic bonds it shares with Saudi Arabia and is committed to further strengthening these ties to drive continued sustainable development," said King Hamad in a statement released by the Bahrain News Agency.

The country's top leader praised the Saudi leadership and the longstanding cooperation between Bapco and Saudi Aramco, a partnership which has continually enhanced bilateral relations since 1945.

The Saudi crown prince visited Bahrain as part of his tour, and met with senior Bahraini officials including Prime Minister Prince Khalifa bin Salman Al-Khalifa and Crown Prince Salman bin Hamad Al-Khalifa.

Bahrain's Cabinet and the Shura Council praised the high-level visit by the Saudi crown prince and said it reflects strong bilateral ties.