Manama: The Bahrain Petroleum Company (Bapco) on Tuesday signed a contract with Technip Italy for the provision of Front End Engineering Design (FEED) services as part of the refinery modernisation programme (BMP).
The refinery modernization project of Bapco is expected worth $8 billion seen a major part of the strategy to keep abreast the energy sector with changing dynamics of growth in the country.
Bapco’s Chief Executive, Peter Bartlett met with Technip Italy S.p.AChief Executive Officer, Marco Villa in Awali signed the contract. It is expected that Technip, operating out of its office in Rome, Italy, will complete the critical front end development work for this mega-project by early 2016.
The ambitious BMP has been described as not a ‘Project’ but in fact a ‘Programme’ which, in project management terms, is a group of related projects managed in a coordinated way to obtain maximum benefits. It will be the single largest investment ever for Bapco, after the recently concluded $1.2 billion Strategic Investment Programme, as a result of which the Bapco Refinery is now the first refinery in the Middle East to successfully demonstrate the capability of producing nearly 100,000 barrels per day of Euro V Diesel and Group III Lube Oil Base Stock. The objective of the BMP is now to improve gross margins and ensure the refinery’s competitiveness in the near future.
Following the contract signing ceremony which was attended by dignitaries from both sides, and members of the Bapco Board of Directors, the Chairman of the Board, Adel Khalil Al-Moayyed, conveyed his best wishes to both the Bapco and Technip project teams for the successful completion of the FEED work.
He stressed on adherence to Bapco’s ‘one-team’ concept that has always been a part of its work culture in a diverse multi-cultural environment reaping rich dividends for the company. Dr. Bartlett added that the two teams should not only ensure to complete the work completed professionally, but also to build friendships which last a lifetime.
Villa assured that Technip would do its utmost to justify the faith reposed in it by Bapco. He stated that Technip has had a long and fruitful relationship with Bapco and the intention is to continue forward in the same vein as Bapco embarks on its most ambitious project to date. Besides Technip’s head office in Rome, the company will also utilise its offices in Abu Dhabi and its High Value Engineering Centre in Greece to guarantee a thorough high-quality FEED for BMP.
“I am deeply grateful to the continued Wise Leadership and business acumen of our superiors in providing timely guidance to us in these matters of national significance. I am indebted to the encouragement given to us by His Excellency Shaikh Ahmed Bin Mohammed Al Khalifa, Minister of Finance and Minister In-Charge of Oil and Gas Affairs and Chairman of the National Oil and Gas Authority and to Shaikh Mohamed bin Khalifa AlKhalifa, Chief Executive of the Oil and Gas Holding Company and their trust in the BMP project team’s ability to deliver this mega-project achieving the highest quality in design and installation, within cost, per agreed schedule, and most importantly of all, with a perfect safety record,” Dr. Bartlett said.