Bahrain’s oil output is expected to double to 100,000 barrels a day (bpd) from the current 50,000 bpd within five years, Bahrain’s energy minister was quoted as saying. Dr Abdul-Hussain Ali Mirza, speaking at a lunch meeting of the Bahrain British Business Forum (BBBF) at the Crowne Plaza Hotel in Manama, said about 3,600 wells are being drilled in the kingdom, a BBBF press release said.
He discussed Bahrain’s long history in the energy sector since the first oil discovery in 1932 and emphasized the strong British contribution to Bapco over the years.
He discussed the funds being invested by the Bahraini Government in the sector, with a significant upgrade of refineries and pipeline networks expected in the future. He also encouraged British companies to look for opportunities within the energy sector, and stressed the importance of the industry to Bahrain as revenue from oil is re-invested into the country.
The minister then engaged the audience, which included Britain’s Ambassador to Bahrain Iain Lindsay and BBBF chairman Khalid Al Zayani, in a lively question and answer session.
BBBF is a growing network of businessmen and women in Bahrain, which now has over 430 members.