A consortium led by France-US petroleum services group TechnipFMC has secured a $4.2 billion (3.5 billion euro) contract to extend capacity at Bahrain's Sitra refinery, the company said Monday.
The contract, awarded by Bahrain Petroleum Company (Bapco), will extend production capacity at the site on Sitra island in the Gulf of Bahrain from a current 267,000 to 360,000 barrels per day, TechnipFMC said.
The refinery exports some 95 percent of its current production, mainly to India and the Far East.
The consortium includes South Korea's refinery and electrical plants designer Samsung Engineering as well as Spanish petroleum engineering firm Tecnicas Reunidas, TechnipFMC said, adding construction should be completed by 2022.
Nello Uccelletti, head of Onshore Offshore activity at TechnipFMC, hailed the "prestigious" contract as being a "testimonial of the long-term partnership with Bapco and strengthen(ing) our leadership in the refining sector."
Bahrain was the first Arab Gulf state to produce oil, in 1932, but its reserves have all but dried up and the Sunni Muslim kingdom depends primarily on the Abu Safa field it shares with Saudi Arabia for its own supplies which are pumped via a 230,000 bpd capacity subsea pipeline.
GMT 05:42 2017 Monday ,18 December
French aerospace giant Thales acquires SIM maker GemaltoGMT 15:30 2017 Thursday ,07 December
Lafarge ex-CEO quizzed over financing jihadists in SyriaGMT 08:36 2017 Saturday ,02 December
Three top Lafarge officials charged with financing jihadistsGMT 15:43 2017 Monday ,16 October
Carrefour appoints FNAC Darty’s Malige as new CFOGMT 00:04 2017 Friday ,06 October
As Uber fights for survival in London it faces a new battle in ParisMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©