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Bahrain Oil and Gas Report Q1 2014

Bahrain oil production forecast to double by 2020


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2014-01-09 06:07:02 - Bahrain Oil and Gas Report Q1 2014 - a new market research report on companiesandmarkets.com

Bahrain is trying to double its oil production by the end of the decade. This increase would largely depend on the success of plans underway to raise production from the Bahrain field. However, our current forecast anticipates delays and we have not yet included all volumes projected by the project. For the moment, we see crude production increasing from 46,000 barrels per day (b/d) in 2012 to 68,680b/d in 2022. However, the biggest attention in terms of investment is firmly on the downstream, where Bahrain Petroleum Company (BAPCO) is planning to increase the capacity of the Kingdom´s centrepiece Sitra refinery by approximately 90,000b/d - from 270,000b/d to 360,000b/d. Other plans envisage the construction of a liquefied natural gas (LNG) receiving

 

 

terminal, although this is still a long way from realisation. For the moment, the government will focus its efforts on upgrading its main refining units - the low hanging fruit in its oil and gas infrastructure portfolio.

The country plans to invest US$15bn in the oil and gas sector over the next 30 years. Bahrain plans to increase its oil production to 100,000b/d before the end of 2020. This increase would largely depend on the success of plans underway to raise production from the Bahrain field. However, our current forecast anticipates delays and we have not yet included all volumes projected by the project. For the moment, we see crude production increasing from 46,000 barrels per day (b/d) in 2012 to 68,680b/d in 2022.

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