Bahrain reports record oil production in 2011
Manama, June 3, 2012
The year 2011 was a landmark year for Bahrain’s oil and gas sector, with the highest ever production of crude oil achieved in December at 45,900 bpd, said Energy Minister Dr Abdulhussain Mirza.
A key report for 2011 issued by the National Oil and Gas Authority (Noga) quotes Dr Mirza as as saying that oil production achieved record numbers, the companies under the umbrella of the Oil and Gas Holding Company delivered outstanding performances and the conferences and exhibitions sector also saw good success.
The 2011 report features eight chapters compiling Noga's achievements. It details positives results posted by the vital sectors of oil and gas, listing key events hosted in Bahrain, which further bolstered the kingdom's status as a hub for global events.
Dr Mirza highlighted that the Bahrain Field achieved amazing outcomes, as a result of the improvements in the daily production rate, following from the wise directives to establish the Tatweer Petroleum Company as a joint venture of nogaholding (Noga's business and investment arm), Occidental Petroleum Corporation and Mubadala Development Company.
The daily rate of production from the Abu Saafa field rose to around 300,000 barrels per day (bpd), with Bahrain's share of 150,000 bpd, Dr Mirza said.
The Bahrain Petroleum Company (Bapco) achieved a record breaking rate for refining around 271,300 bpd in November and 271,300 bpd in December, from the previous levels of 258,900 bpd. This marks a huge success for Bapco, proving that it can face challenges. Gas production reached 552 billion cubic feet during 2011, on an average of 1.5bn cubic feet per day.
The Gulf Petrochemical Industries Company (GPIC) also raised its productivity, producing 1.575 million metric tons of ammonia, methanol and urea during 2011.
A total of 173 oil wells and one gas well were also dug during the year. The sector also holds the record of the highest rate of capital spending at $67.5 million in one month.
Other achievements of the year included the launch of the Bahrain Vision, a specialised multi-gas carrier by Skaugen, and the sinking of the first exploration well in the sea. Two other wells will be added later this year, with the expenses borne by Occidental, Dr Mirza added. – TradeArabia News Service
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