Energy
From The Report: Bahrain 2020
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Domestic oil production has declined in recent years, and Bahrain has increased its efforts to accelerate diversification and realign its economy to non-oil growth. However, the oil and gas sector remains its largest economic contributor, benefitting from a growing petrochemicals manufacturing base, rising natural gas production, and a major potential offshore oil and gas discovery in the Khaleej Al Bahrain basin. Despite facing challenging external conditions and declining domestic oil production, Bahrain’s energy sector is positioned for significant mid-term expansion, supported by the Bahrain Petroleum Company Modernisation Programme and its knock-on benefits to downstream and manufacturing industries, ongoing offshore exploration and production activities that could allow authorities to reap considerable long-term economic benefits. This chapter contains an interview with Pete Bartlett, CEO, Bahrain Petroleum Company.

Articles from this Chapter

Overview

Promising find: The kingdom undertakes a sweeping modernisation programme as a major new discovery is made off the coast
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Domestic oil production has declined in recent years, and Bahrain has increased its efforts to accelerate diversification and realign its economy to non-oil growth. However, the oil and gas sector remains its largest economic contributor, benefitting from a growing petrochemicals manufacturing base, rising natural gas production, and a major potential offshore oil and gas discovery in the Khaleej Al Bahrain Basin (KABB). Furthermore, global oil market and geopolitical volatility have led…

Analysis

Offshore opportunity: A significant oil and gas find offers major long-term benefits
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In early 2018 Bahrain announced the most significant recent oil and gas discovery in the kingdom since the 1930s, located in the offshore Khaleej Al Bahrain basin (KABB). Should the basin offer sufficient amounts of recoverable reserves, new production will push Bahrain to regain its status as a major regional oil and gas producer, in addition to offering significant benefits to its downstream oil and gas segments. Questions remain regarding how new production will be processed at the Sitra…

Analysis

Progressive solutions: New national action plan seeks to boost renewable energy and increase large-scale solar projects
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Under the auspices of the National Renewable Energy Action Plan (NREAP), Bahrain is actively seeking to boost renewable energy’s contribution to the energy mix. Development of new solar power projects will be an important component of implementing the NREAP, and the government has made good progress on advancing its solar agenda over recent years. While the NREAP emphasises decentralised, smallscale solutions to achieve some of its renewable targets, the plan has also called for the construction…

Interview

Future ready: Pete Bartlett, CEO, Bahrain Petroleum Company (Bapco), on remaining competitive in a rapidly changing sector
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Interview:Pete Bartlett What are some of the challenges associated with capital expenditure planning in a volatile oil market, and how can these be mitigated? PETE BARTLETT: Capital investments are much more selective and scrutinised under multiple possible scenarios, including the worst-case business environment where only the most resilient projects survive. Once the projects are under way managing cash flow effectively is the greatest challenge in a volatile oil market. This calls for…