Over 50 percent of the construction and modernization of the project for the replacement and upgrading of the oil pipeline between Bahrain and Saudi Arabia has been accomplished, announced Oil Minister Sheikh Mohammed bin Khalifa Al Khalifa.
He also stated that the pipeline is being buried in the south of Bahrain, and "the project is moving steadily according to the plan and budget. In order to double the current capacity of the absorptive capacity of the pipeline, which has been going on for more than 70 years."
The minister described Bahrain’s refinery project, which was established in 1936, as one of the strategic projects in the country to raise the level of unliquidated obligations in the area of the Gulf Cooperation Council (GCC).
This project aims to enhance competitiveness and profitability in order to increase the production of the refinery.
The minister added that the oil sector in Bahrain is currently working on a clear strategy for involving the private sector in the implementation and management of the oil projects, such as the port project of liquefied natural gas.
The port project is being developed in partnership with the private sector, that will be implemented according to the system of construction and property transfer.
Sheikh Al Khalifa expects that the third gas plant, owned by Bahrain National Gas Company, to start operating by the last quarter of the year 2018.
Bahrain's Oil Minister was speaking during the inauguration of the second Edition Middle East Refining Technology Conference (MERTC2018).
The minister confirmed the need for more investments and advanced technology and engineering solutions to the various challenges in the refining industry, as a result of population growth and increase demand on energy, which it requires further effort in order to strengthen the cooperation between the refining industry and technology.
This represents a challenge facing technology companies today to devise creative solutions that help companies operating in the oil refinery to improve financial returns and enhance operational efficiency, explained the minister.
He reiterated the need to achieve balance between oil prices which negatively affected the oil producing countries, employees and investors in the field of oil refineries. He also pointed out the need to take full advantage of technological solutions available to rationalize operational expenditures in this sector is vital.
There is a need to find ways to improve the operational efficiency and quality of products, as well as innovative technologies and solutions to the increasing use of heavy raw materials, as the main key to achieve the best results in the refining sector in the Middle East and the world, confirmed the Oil Minister.
The conference had over 450 participants, 80 percent of which were engineers and professionals, who met to address the issues and review technical solutions. They also reviewed some examples of successful development projects in different regions of the world, where they took advantage of the events accompanying, that can contribute in improving the future of the refining industry in the region and the world.
The minister also opened the exhibition, which included a number of national and international oil companies, such as Bahrain Petroleum Company (Bapco), Sabic, Kuwait National Petroleum Company, Abu Dhabi Oil Refining Company, Manufacturing Company of Saudi Arabia, Kuwait Petroleum Corporation (KPC), and many international companies and consultancy in the field of oil refining industry.
