Energy

Oil and gas remain key to Bahrain’s economy, with 87% of government revenues generated from hydrocarbons in 2012 and the oil sector growing robustly in 2013, posting 15% real GDP growth. While falling oil prices are a concern in the short term, the kingdom is looking to boost oil production in the medium term. Efforts are under way to double the output of the Bahrain field by 2020 through the use of enhanced oil recovery techniques while a new round of offshore exploration drilling is expected in 2015. Meanwhile plans were announced in 2014 for the kingdom’s first liquefied natural gas (LNG) terminal, with the LNG regasification facility expected to import 3m tonnes per annum. Elsewhere, a major upgrade to the kingdom’s oil refinery on Sitra Island will ensure Bahrain remains competitive at a time when a number of similar expansions are taking place in the region.

This chapter contains interviews with Abdul Hussain bin Ali Mirza, Minister of Energy; and Pete Bartlett, CEO, Bahrain Petroleum Company.