Bapco board reviews refinery modernisation plan

Adel Almoayyed chaired a meeting of the Bapco Board of Directors which was held at the Bapco Refinery reviewed plans and progress of Bapco Modernization Project, Upstream exploration programs, Productivity Improvement Program and the current initiatives related to pilot project for use of Solar Energy being implemented under the auspices of National Oil & Gas Authority.

On behalf of the Board, the Chairman expressed thanks and appreciation for the valued and continuous support of the Wise Political Leadership and pledged to make every effort to enhance Bapco’s positive contributions to the Kingdom. The Chairman thanked His Excellency the Minister of Finance & Minister in Charge of Oil & Gas Affairs for his guidance and support in the ongoing success of the Company.

The Board reviewed a number of Corporate, Operational, Organisational, Financial and Environmental, Health and Safety (EHS) issues.
Reports from the Audit and Finance Committee, the HR Committee and Compensation/Remuneration Committee were reviewed, decisions made and directives provided to executive management.
Management and employees were thanked for the good operating results in 2012 and for their excellent contributions for the ongoing success of the Company.