Written by Nayla Barakat
Manama, Feb. 14 (BNA): The refinery modernization project will enhance quantity and quality and improve energy efficiency, making it one of the most competitive refineries in compliance with environmental standards in the world.
This was stated by the Minister of Oil and Environment and the Special Envoy for Climate Affairs, Dr. Muhammad bin Mubarak bin Dinah, in his opening speech at the Second International Conference and Exhibition of the Refining and Petrochemicals Association (GDA).
Under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, the three-day event themed Downstream Turning Points – “Take Advantage of Transformation” is attracting more than 5,000 delegates including industry executives and will provide a rare opportunity for industry leaders.
The minister said that the Bapco refinery modernization project, which is a continuation of many development projects in this vital sector, is one of the largest strategic projects aimed at increasing the daily refining production capacity from 267 thousand barrels to 380 thousand barrels per day.
The interest of His Majesty King Hamad bin Isa Al Khalifa and the continuous follow-up of His Highness the Crown Prince and Prime Minister reflect the government’s keenness to support various Bahraini activities and conferences aimed at achieving the goals of the comprehensive development process.
The minister stressed that oil, gas and petrochemical sector conferences are among the global forums in the Middle East.
Dr. Bin Dinah said that the Bahrain refinery project will achieve the desired transition to a new stage through the use of industrial digital transformation technologies, artificial intelligence applications, the uses of the Fourth Industrial Revolution and smart solutions.
He referred to the conscious strategies to activate the dynamic performance management system, which is expected to be completed during the current year.
The minister indicated that the conference represents a good opportunity to explore investment opportunities and incentives for large vital projects in the GCC and the Middle East region.
It is also an opportunity to exchange information and experiences in order to enhance capabilities and enhance skills to improve productivity in line with international standards, which contributes to creating competition in the field and enhancing the environment that attracts investment in the oil sector.
He pointed out that the conference represents an opportunity to discuss various issues, current challenges and appropriate solutions for the growth and prosperity of the refining industry through the implementation of new strategies and business models and the establishment of joint ventures.
It also covers the search for modern technologies capable of achieving the desired goals in the field of refining, processing and marketing.
He stressed that the refining industry in the Middle East is witnessing continuous growth in investment, due to its great importance in developing and diversifying the national economy despite the current challenges.
The minister said that the GCC region is committed to maintaining its leadership and developmental position in the energy market by meeting the needs of energy and its derivatives for all partners from various countries without interruption and with high-value products that are compatible with international standards that are low-carbon and environmentally friendly.
Discussions at the conference will address challenges and opportunities for refining industry growth, resilience, decarbonisation, sustainability, obstacles, digitization in the downstream sector, marketing, human capital management, market analysis, and industry trends.
The conference includes main sessions, technical workshops, and an exhibition that includes more than 500 specialized companies from different countries.