Oil and Gas sector to fetch $24b new projects in Bahrain

The Excellence Team in the National Oil and Gas Authority (NOGA) presented a success story of NOGA in the oil sector for implementation and management of mammoth projects utilizing highly accurate models and techniques, selecting the Low-Sulfur Diesel Production Project which was implemented in compliance with Bahrain Petroleum Company’s methodology for boosting and diversification of the Kingdom’s oil revenues contributing into our national economy, increasing sustainability of our natural resources in addition to the protection of the environment which was inaugurated in 2007.

The Authority’s excellence team reviewed before the arbitration team fundamental indices: timing, conditions of supply and demand, mechanism of implementation and selected Chevron’s model for managing such projects and assessment of implementation and risks as well as economic, technical and environmental revenues of the project for the Kingdom of Bahrain.

The presentation also discussed the potential of using this model for management and implementation of projects in the oil and gas sector which intends to establish projects worth a total amount of $24 billion. This helps boost competiveness and productivity as well as achieving highest quality in consideration for the least cost which serve NOGA to satisfy the values of the Bahrain Center for Excellence in line with Bahrain Economic Vision 2030.

The Excellence Team from NOGA praised the existing cooperation between the team and Bahrain Center for Excellence and the technical support the team received from the center’s experts and advisors.