GCC refining infrastructure spend seen at $700bn
Manama, December 6, 2012
A projected $700 billion will be spent on refining infrastructure projects in the GCC region over the next few years, said an expert, adding that it was vital to design new projects to minimise maintenance costs and maximise reliability.
Bapco chief executive Gordon Smith was speaking at the second Middle East Maintenance Conference (Maintcon) held at the Gulf Hotel in Bahrain, according to a report in our sister publication, the Gulf Daily News.
The Middle East needs to develop its manufacturing sector in order to boost local investment and produce parts for different industries, Smith added, stressing that the region needed its own manufacturing industry to support different industries and projects.
Maintenance needed to be considered seriously in order to ensure reliability and safety, he added.
Life cycle costs, for instance, need to be included in the project design from the conceptual stage to the commissioning and on-going operations of the plant.
Bapco acting general manager - maintenance Mahmood Mirza chaired a session on asset integrity management on the first day of the conference. – TradeArabia News Service
More Energy, Oil & Gas Stories
- ME oil, gas transaction value up 15pc
- Victrex to showcase new product in Paris
- Aramco JV puts off giant refinery overhaul to 2015
- Libya threatens to bomb N Korean tanker
- Bahrain 'producing 850MW of surplus power'
- 2,000 experts for Bahrain geosciences summit
- Libyan rebels start oil exports, bypassing govt
- Dubai drilling company set for London IPO
- Opec output soars on higher Iraq exports
- S Korea to pay Iran $550m under nuke deal
- Qatar LPG exports will stay unchanged till 2018
- $14bn Bahrain energy sector focus for summit
- Iraq now world's fastest-growing oil exporter
- Old IT systems pose risk to oil firms
- Thomson Reuters adds commodity monitoring tool
- Oil below $90 to hit GCC economies
- GlassPoint appoints new Oman director
- Sheffield company opens Dubai hub
- Oman targets big rise in gas output
- Intertek buys UAE firm for $66m
- Qaiwan to tender Baizan refinery EPC contract
- Al Maha wins Oman Air fuel supply deal
- Iran to become top gas importer by 2025
- UAE hydrocarbon projects seen hitting $11bn
- Summit focus on occupational safety
- Aramco names new senior VP
- Siemens gets $253m Qatar power contract
- Taqa-led group's India deal worth $1.6bn
- Taqa-led group to buy India power plants
- Iraq oil exports hit record 2.8m bpd