Energy

Domestic oil production has declined in recent years, and Bahrain has increased its efforts to accelerate diversification and realign its economy to non-oil growth. However, the oil and gas sector remains its largest economic contributor, benefitting from a growing petrochemicals manufacturing base, rising natural gas production, and a major potential offshore oil and gas discovery in the Khaleej Al Bahrain basin. Despite facing challenging external conditions and declining domestic oil production, Bahrain’s energy sector is positioned for significant mid-term expansion, supported by the Bahrain Petroleum Company Modernisation Programme and its knock-on benefits to downstream and manufacturing industries, ongoing offshore exploration and production activities that could allow authorities to reap considerable long-term economic benefits. This chapter contains an interview with Pete Bartlett, CEO, Bahrain Petroleum Company.