Energy & Utilities
From The Report: Bahrain 2024
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Bahrain, the first Gulf country to discover oil, is navigating the energy transition by focusing on renewables, energy efficiency and sustainability. Legislation introduced in 2023 rebranded the parent company of Bahrain’s oil and gas companies as Bapco Energies, highlighting the kingdom’s readiness to embrace opportunities in the energy transition and achieve sustainable targets. The kingdom targets for renewable energy to constitute 5% of the local energy mix by 2025 and 20% by 2035. In efforts to reach these targets, in February 2024 Bahrain launched a tender for a 100-MW solar project, which is set to be the country’s first utilities-scale solar power project. With strong corporate legal frameworks, political stability and well-developed infrastructure, Bahrain is well-positioned to expand its non-oil economy.

This chapter includes interviews with Mohamed bin Mubarak Bin Daina, Minister of Oil and Environment; and Somaya Al Radhi, Country Manager, Schlumberger Bahrain.

Articles from this Chapter

Overview

Capacity boost: Investment in Bahrain’s oil and gas fields drives growth while the sector sees restructuring amid diversification efforts
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Bahrain, which was the first country in the Gulf where oil was discovered, is navigating the challenges and opportunities of the energy transition. While focusing on renewables production, energy efficiency and sustainability, new drilling projects in Bahrain’s offshore oil fields, combined with significant investment projects, indicate that hydrocarbons will continue to play an important role in the country’s economy. In terms of the domestic energy mix, electricity production is still solely…

Interview

Green rush: Mohamed bin Mubarak Bin Daina, Minister of Oil and Environment, on utilising sustainable practices
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Interview:Mohamed bin Mubarak Bin Daina Where do you see opportunities for investment in the energy transition over the medium to long term? MOHAMED BIN MUBARAK BIN DAINA: Renewable energy presents a compelling investment opportunity, with solar photovoltaic (PV) systems ideal for large-scale deployment given Bahrain’s abundant sunshine. Although Bahrain’s wind potential is moderate, targeted investment in offshore wind farms can help diversify the energy mix. Additionally, waste-to-energy…

Analysis

Green goals: Emerging markets are navigating the rising cost of solar power
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With high energy prices and supply chain disruptions creating shortages of renewable energy components and materials, emerging markets are reassessing how to build out utility-scale solar power to accelerate their energy transitions. After more than a decade of decline, the cost of solar photovoltaic (PV) panels has risen around the world, due primarily to the increasing cost of solar-grade polysilicon in China. A key component in PV panels, polysilicon spot market prices rose from under $7 per kg…

Interview

Gas to cash: Somaya Al Radhi, Country Manager, Schlumberger Bahrain, on mitigating carbon emissions through technological innovation
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Interview:Somaya Al Radhi To what extent is Bahrain a destination for oil, gas and renewable energy investment? SOMAYA AL RADHI: Bahrain has been a destination for international oil and gas investment since the discovery of oil in the 1930s. Today, the kingdom continues to attract regional and global investment, encompassing financing, exploration and production activities. International partnerships have enabled Bahrain to leverage advanced technologies and expertise. The country is actively…