 | |
| BAPCO | |
| Company type | State-owned enterprise |
| Industry | Petroleum |
| Founded | 1929 (original company) 1999 (current company) |
| Founder | Standard Oil Company of California (original company) |
| Headquarters | , |
Key people | Abdulrahman Jawahery (CEO) |
| Owner | Government of Bahrain |
| Website | www |
The Bahrain Petroleum Company (BAPCO) is an integrated petroleum company that is the national oil company of Bahrain.
BAPCO was established in 1929 in Canada by Standard Oil Company of California for oil exploration activities in Bahrain. [1] [2] [3] It took over Bahrain's assets of Gulf Oil. [1] In 1930 it obtained the only oil concession in Bahrain. [4] BAPCO discovered first oil in 1931. [5] On 31 May 1932, the company discovered the Bahrain Field (Awali Field). After exporting oil and constructing a refinery, it started with 10,000 barrels per day (1,600 m3/d) refining capacity in 1936. [3] Later that year the Standard Oil Company of California signed an agreement with Texaco, which acquired a half of BAPCO's shares. [1] In 1975 more than 60% BAPCO's shares was acquired by the Government of Bahrain. In 1980, all BAPCO's shares were taken over by the Government of Bahrain. [1] [6] In 1978 the oil sector was nationalized and BAPCO assumed full control of the national energy sector. [5] In 1999, the current Bahrain Petroleum Company was created when the Bahrain National Oil Company, established in 1976, merged with BAPCO. [1] [6] In 2018 BAPCO commissioned a new pipeline that replaced the over 70 years old pipeline infrastructure between Bahrain and Saudi Arabia. [3] In March 2019 construction work was started to upgrade the main oil refinery Sitra. The $5 billion project will increase the capacity to 380,000 barrels per day (60,000 m3/d). [3] Abdulrahman Jawahery is CEO of the BAPCO. [7]
In August 2021, BAPCO signed a five year agreement for catalyst management with Chevron Joint Venture for $240 million. The clean fuels group specialist Advanced Refining Technologies (ART) which is the joint venture of Chevron and W. R. Grace & Company, will supply there Resid Hyrdocracking catalyst technology for the new Resid Hydrocracking unit (1RHCU) that is to be operational by 2023. [8] [9]
In October 2021, BAPCO was released from the base oils joint venture with Neste and Nogaholding, ending the presence of Neste in Bahrain. [10]
On 6 February 2022, BAPCO signed a Memorandum of Understanding (MoU) with Aluminium Bahrain B.S.C. (Alba) for the implementation of Environment, Social and Governance (ESG) initiatives. [11] [12]
In 2023, BAPCO became part of the BAPCO Energies brand together with Bahrain National Gas Company (Banagas), Bahrain National Gas Expansion Company (Tawseah), Bahrain Aviation Fueling Company (Bafco) Tatweer Petroleum, and Bapco Retail Company (Tazweed). [13]
BAPCO is a founding company of the Gulf Downstream Association (GDA). [14]
The Bapco Modernisation Programme (BMP) completed the construction of the main control building in July 2023 and celebrated with a ceremony, in which for the first time ever in the Middle East a three-dimensional model of the BMP was presented. The ceremony was attended by Nasser bin Hamad Al Khalifa, who was also given a tour of the facilities and briefed about further BMP project progress. The BMP was 90% complete by August 2023. [15] [16]
In July 2023, Bapco Energies launched its Sustainability Linked Finance Framework, which fits into Bahrain's sustainability and climate change commitments to reduce emissions by 30% by 2035 and a net zero by 2060. In accordance with Bahrain's new energy strategy, Bapco Energies B.S.C began additional developments in August 2023 to become an energy company with fossil fuel based renewable energies. The company aims to generate 20% of Bahrain's energy from renewable sources by 2035 and continues to seek investment opportunities in renewable energy projects and carbon reduction technologies. [17] [18] [19]
In March 2024, BAPCO began a cooperation with TotalEnergies in order to optimize its Sitra refinery. [20] [21] A strategic partnership between the two companies, which began in July 2024, provides BAPCO with additional market opportunities and trading strategies, as well as access to TotalEnergies' networks. [22]
BAPCO is an integrated oil company operating in the field of refining, and marketing. It operates a 267,000-barrel-per-day (42,400 m3/d) oil refinery which lies midway between the original BAPCO expat workers accommodation township of Awali and Sitra. [23] The complex also includes storage facilities for 14 million barrels (2.2 million cubic metres), a marketing terminal, and a marine terminal. 95% of the company's products are for exports. [5] About one-sixth of this crude originates from the Bahrain Field, with the remainder being pumped from Saudi Arabia. Saudi Aramco supplies approximately 350,000 barrels per day (56,000 m3/d) through the 112-kilometre (70 mi) pipeline from Aramco's Abqaiq Plant. [24] [25] Once the flagship Sitra refinery's expansion is completed in 2023, its capacity will be increased from 267,000 bpd to 380,000 bpd. [25] [26] [27]
On December 2, 1925 the British Eastern and General Syndicate acquired from the Sheik of Bahrain an oil concession over 100,000 acres with exclusive right to develop the area. Shortly thereafter the concession was extended to cover all of Bahrain. On November 30, 1927, the Eastern Gulf Oil Co. subsidiary of Gulf Oil bought an option on the concession, to be exercised before January 1, 1929. In 1928 Gulf Oil became a shareholder in the Near East Development Corporation which was awarded a 23.75% stake in the Iraq Petroleum Company. Thus, Gulf Oil was bound by the Red Line Agreement, which stipulated that Gulf Oil would not be allowed to exploit Bahrain oil without the involvement of the other members of IPC, or rather, if it did, it would bear all the downsides of exploration and still would have to share the spoils with the rest of the group. When IPC was unwilling to accept the option, Gulf Oil on December 21, 1928 sold it to the Standard Oil Company of California. [28] : 71
In June 1932 the Jebel Dukhan No. 1 well struck oil at a depth of 2,008 feet and flowing at a rate of 2,400 bbl/day, No. 2 well struck oil at the same depth flowing at a rate of 1,500 bbl/d. Both where named after 450ft high hill into which they were sunk. [29]
| Barrels | |
|---|---|
| 1932 | 902 |
| 1933 | 31,376 |
| 1934 | 285,072 |
| 1935 | 1,264,808 |
| 1936 | 4,644,635 |
| 1937 | 7,762,264 |
Once oil was found, the conditions were very favorable. All the technical equipment needed to lay a pipe and construct a loading dock from local building materials could be fitted on a single ship. The tanker El Segundo with a crew of 45 sailed from San Pedro on December 28, 1933 [31] and arrived via Mumbai on February 22, 1934. She anchored 16,000 feet offshore beyond the stretch of shallow water that was to be bridged by a 12-inch pipeline resting on the ocean floor. Five 8-ton anchors at the loading berth held in place 5 marking buoys at a depth of 50 feet of water. On the island of Sitrah, 3 tanks totalling 250,000 barrels and one 7,500 barrel tank for ballast water were erected from sheet steel brought by the El Segundo. From the terminal on Sitrah to the wells, 10 miles of gathering lines were laid. The loading capacity of the terminal was built to an initial capacity of 10,000 barrels per day. A road was built to the terminal, including 1,200 feet of a trestle and a draw bridge. [32] The El Segundo departed with a fresh load of 25,000 barrels in August 1934, bound for Yokohama. [33]
A 10,000 bbl/d refinery was built in 1936, before it was completed a contract was let for the second unit to double its capacity, at which point it began limited operations of those parts of the processing chain already completed. [34] [35] The Oil and Gas Journal published a technical description in the 1937-12-30 issue, stating the capacity as 25,000 bbl/d, but in principle capable of more if a few bottlenecks were removed. [36]
The Italian air force bombed the refinery on October 19, 1940.
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