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Forum focus on business model for oil firms

Manama, August 22, 2013

The future of the oil industry and a strategic framework in which businesses can still prosper will form the agenda for an upcoming process engineering conference in Bahrain.

Mepec 2013, the Middle East Process and Engineering Conference and exhibition, will run at the Bahrain International Exhibition and Convention Centre from September 29 to October 2, according to a report in the Gulf Daily News.

Speaking ahead of the event, Bapco deputy chief executive of refining and marketing Ebrahim Talib outlined how the company's commitment to innovation and investment is adding value for Bahrain.

"Bapco's vision is "Striving for Excellence" - a clear message that is the guiding principle to which the company operates," he said.

"More than a hydrocarbon producer and refiner, Bapco is a major employer in Bahrain and is active in sponsoring various community initiatives and institutions to help nurture the next generation of talented engineers to build communities.

"This approach is in line with the Economic Vision 2030, which envisages oil providing the foundation for a bigger and more sustainable economy," he added.

"The focus on improving collaborative decision-making should be an integral part of the strategy to improve downstream supply chain activities, forecast accuracy, distribution scheduling and execution.

"Our company is currently implementing a comprehensive investment programme, one of the largest in the country's history, which will see it transformed into one of the world's most sophisticated refiners and also a significant upstream player, injecting valuable new revenue streams into the national economy by 2018.

"At the heart of this programme is the Refinery Master Plan," he said. "This multi-dimensional project will ultimately create a refinery reflecting technological excellence in terms of products and establishing Bahrain as a highly competitive global refining hub,” Talib noted.

"Strategic investments at Bapco will not only create additional jobs internally, but also invigorate supporting industries, such as construction and material supplies.

"While technologies drive processes, the responsibility for achieving operational excellence and maximising performance levels will continue to be the measure of success for Bapco. The oil and gas industry has experienced dramatic changes in recent years," he said.

"The combination of environmental concerns and global demand for crude oil and natural gas has forced companies to take short-term cost-cutting measures.

"However, Bapco continues to invest in Quality Management and Environment Management Standards to maintain its ethos for continued excellence," he added. – TradeArabia News Service




Tags: Bahrain | Bapco | Conference | MEPEC |

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