Bapco to Meet Technip-led Consortium for Talks on Refinery ExpansionSource: Reuters 8/22/2017, Location: Middle East
State-run Bahrain Petroleum Co (Bapco) will meet a consortium led by France's Technip for further talks over the planned expansion of Bahrain's only oil refinery, sources close to the matter told Reuters.
Bahrain has long been planning to expand the Sitra refinery and industry sources told Reuters in April that all bidders for the work had been asked to clarify proposals they first submitted in December last year.
However, the Technip-led consortium, which also includes South Korea's Samsung Engineering and Spain's Tecnicas Reunidas, has now been asked back. "They were the only ones to be called for negotiations," one of the sources said, adding that the price and financing arrangements are expected to be discussed in the coming days.
Three sources said the consortium is believed to be the lowest bidder and a fourth said that some contract conditions will be renegotiated. Bapco and Tecnicas Reunidas were not available for comment, while Technip repeated that it doesn't comment on ongoing bids.
A spokesman for Samsung Engineering would only say that talks with Bapco are ongoing, but added that the Bahrain company is expected to announce its decision in the fourth quarter.
Sitra has processing capacity of 267,000 barrels per day (bpd), but the Bapco modernisation programme aims to lift that to 360,000 bpd by adding and replacing a few units at an estimated cost of $5 billion.
The country relies on output from the Abu Safa field that it shares with Saudi Arabia for the vast majority of its oil. A new pipeline will replace an ageing 230,000 bpd link allowing the refinery to process more crude.
Wholly owned by the government of Bahrain, Bapco’s operations are in the refining, distribution, sale and export of crude oil and refined products.
Oil Treating & Refining News in Bahrain >>
Oman >> 9/13/2017 - The Asian market continued its upward trend in August, and was also affected by disruption of supply from the USGC, resulting in growth in all produc...
Austria >> 9/12/2017 - Refinery margins in the Atlantic Basin strengthened in August. In the US, margins rose amid a product supply shortage in the wake of Hurricane Harvey...
Egypt >> 8/25/2017 - Egypt’s Carbon Holdings aims to finalize funding and start building its massive Tahrir petrochemicals project by June, producing raw materials despera...
China >> 8/23/2017 - Saudi Aramco is expected to sign a final deal with PetroChina, China's second-largest state-run refiner, within six months to invest in its Yunnan ref...
Fluids Drilling, Completion, Workover & Stimulation
Gasoline (Lead free)
Kerosene. Domestic use
Lubricants, Oils & Greases
Oil Treating & Refining
Related Articles: Aromatic Solvents Butene Cleaning Corrosion Inhibiting Crude Oil Diesel Fuel Ethylene Fluids Drilling, Completion, Workover & Stimulation Fluids/Chemicals Fracturing Sand Fuel oil Gasoline (Lead free) General Jet fuel Kerosene. Domestic use Lubricants, Oils & Greases Nitrogen Oil Treating & Refining Polyethylene Polyvinyl chloride Propane Sand, Sandblast Surfactants
|Bahrain Oil & Gas 1 >>|