Oil & Gas

The Sitra refinery modernization project in Bahrain, led by Bapco Energy, is nearing full completion and is expected to significantly boost the country’s oil refining capacity. Once operational, the upgraded refinery will increase its capacity from 267,000 barrels per day to a nominal 380,000 barrels, with a maximum capability of 400,000 barrels daily.

According to Bapco Energy CEO Mark Thomas, the $7 billion project aims to enhance operational efficiency, product flexibility, and environmental performance, marking a major milestone for Bahrain’s energy infrastructure.

Speaking at the 32nd Middle East Oil & Gas Conference hosted by Bapco Energy, Thomas emphasized the project's readiness to commence full operations in 2025. The conference was inaugurated by Bahrain’s Minister of Oil and Environment, Dr. Mohammed bin Mubarak bin Dinah, and organized by S&P Global.

Held under the theme “Balancing Conventional and Renewable Energy in the Middle East,” the event attracted energy leaders and experts worldwide, underscoring Bahrain's role in advancing regional energy dialogue and scientific development.

In his opening remarks, the Minister highlighted Bahrain's commitment to fostering platforms that support sustainable energy strategies and international cooperation. He noted that global participation in such conferences plays a crucial role in aligning traditional energy needs with low-carbon transitions.

Emphasizing collaboration, he called for joint efforts to address emerging global energy trends, encourage innovation, and develop skilled human capital to lead the evolving energy sector.

Bapco Energy's CEO further addressed the broader energy landscape, rejecting the notion of moving away from hydrocarbons. Instead, he described the current phase as an "energy addition" era where fossil fuels and renewables must coexist. He noted that while renewables like wind and solar accounted for 15% of electricity generation in 2024, oil and gas continue to be central to energy security.

Bapco is also exploring new frontiers through a strategic agreement with EOG Resources for unconventional gas exploration and is studying projects in solar, offshore wind, and nuclear technologies, positioning itself as a leader in the energy transition.