Jarada is pretty close to Qatar, yes. So much so the Bahrainis and their 'brothers' have been fighting over it for yonks. About 20 years ago the Qataris blew it up, but the sand reformed and the Bahrainis built the lighthouse. Quite comical really.
I think the whole thing was sorted out when they did Hawar (another GREAT deal...Bahrain gets the pointless rock and a few birds, Qatar get all the natural gas and more money than they can ever dream of...)
You also need a pretty decent boat...I wouldn't want to go there with anything less than 250hp onboard if you had kids with you.