The National Oil and Gas Authority (NOGA) issued its final report for 2011. This is the 6th edition to-date following the Royal degree (63) establishing NOGA.
The 2011 Report features eight chapters compiling NOGA 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.
The report quoted Energy Minister Dr. Abdul Hussein Mirza 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.
Attributing the achievements primarily to the wise leadership and the sincere efforts of the employees, 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 (the business and investment arm of Bahrain’s National Oil & Gas Authority), Occidental Petroleum Corporation and Mubadala Development Company.
Announcing key performance highlights, the minister added, the daily production from the Abu Saafa field rose to around 300,000 barrels, with Bahrain’s share of 150,000 barrels a day. The Bahrain Petroleum Company (BAPCO) achieved a record breaking rate for refining around 271.3000 barrels a day in November and 271.3000 barrels a day in December 2011, from the previous levels of 258.9000 barrels.
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 1.5bllion 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, compared to 1.476million metric tons in 2012.
The highest ever production of crude oil was achieved in December 2011, reaching 45,900 barrels a day. A total of 173 oil wells and one gas well were also dug during the same year. The sector also holds the record of the highest rate of capital spending at $67.5million 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 (2012), with the expense borne by Occidental,” Dr. Mirza added