Dr. Abdul-Hussain bin Ali Mirza, Minister of Energy, Chairman of National Oil and Gas Authority and Chairman of Bapco’s Board told the 24X7 News that there were no losses reported due to lost time early this year.
“Bapco has sustained profitability patterns amidst fears of possible financial losses due to extraordinary events which gripped the country in February and March this year,” he added.
On contrary, Dr Mirza said, Bapco has set a new record of 271,300 barrels a day and if the company sustains this production then it would be 50,000 barrels a day more than the previous year at end of 2011.
Referring to a parliament question posed to the Minister about possible losses of $91 million this year, Dr Mirza said that the overall all production indicators were better than the last year and the question of losses doesn’t arise.
Dr Mirza, who was talking to media on the sidelines of the event at Bapco Awali Club on Wednesday, attributed the success of achieving production targets to the dedication and efficiency of the employees of the company.
Earlier, the Minister of Energy, Chairman of National Oil and Gas Authority and Chairman of Bapco’s Board of Directors, Dr. Abdulhussain bin Ali Mirza, opened an Expo organised by Bapco titled PC&I Exhibition at Bapco Club, Awali under the theme of 20 years of Success.
The exhibition was organized to mark and celebrate the 20th anniversary of Bapco’s Process Control and Instrumentation PC&I Department. The exhibition showcased the functionalities of various control systems and measurements engineered, installed and supported by PC&I over more than two decades.
Bapco’s Chief Executive, Faisal Al-Mahroos expressed pride in this activity, which reflects the tangible contributions of Bapco in serving the oil and gas sector and supporting the national economy.
“The exhibition will feature PC&I capabilities in automation area and state-of-the art and cutting edge technologies in Bapco”, he said.
“We aim to elevate audience awareness of the installed control automation systems spread over various areas in Bapco, and illustrate the contribution of automation and control to Bapco’s profitability”, Al-Mahroos, added.
“We would like to express sincere thanks and appreciation to HE the Minister of Energy for his valued support and kind patronage of this key activity, wishing the exhibition every success in achieving the desired goals”, Al-Mahroos, added.
The Minister of Energy hailed the dedicated efforts of the organizers of the exhibition which reflected the technological advances in Bapco, thanking in particular Bapco’s GM Engineering, Mohamed Ghuloom, Manager PC& I, Mohamed Ashoor and Senior Engineer PC&I & Exhibition Coordinator, Haifa Al-Marzooq.