New Market Report: Bahrain Oil & Gas Report Q3 2014
Fast Market Research recommends "Bahrain Oil & Gas Report Q3 2014" from Business Monitor International, now available
[USPRwire, Thu Jul 17 2014] Bahrain is trying to double its oil production by the end of the decade. This increase would largely depend on the success of plans under way to raise production from the Bahrain field. However, our current forecast anticipates delays and technical difficulties and we have not yet included all volumes projected by the project. For the moment, we see crude production increasing from 46,000 barrels per day (b/d) in 2012 to 68,000b/d in 2023. However, the biggest attention in terms of investment is firmly on the downstream, where the Bahrain Petroleum Company (BAPCO) is planning to increase the capacity of the Kingdom's centrepiece Sitra refinery by approximately 90 ,000b/d - from 270,000 b/d to 360,000 b/d . Other plans envisage the construction of a liquefied natural gas (LNG) receiving terminal, although this is still a long way from realisation.
We highlight the following trends and developments in Bahrain's oil and gas sector:
* With the country possessing only one mature oil and gas field, the Bahrain field, we expect oil and gas reserves to decline in the period 2013-2023, pending new discoveries. We expect oil reserves to follow a downward trend from 0.12 barrels (bbl) in 2014 to 0.09bn bbl in 2023. Gas reserves will fall to around 0.08trn cubic metres (tcm).
* The country plans to invest USD15bn in the oil and gas sector over the next 30 years. Bahrain plans to increase its oil production to 100,000b/d before the end of 2020. This increase would largely depend on the success of plans under way to raise production from the Bahrain field, currently being undertaken by the Tatweer Petroleum Joint Venture. However, our current forecast anticipates delays and we have not yet included all volumes projected by the project. At the moment, we see crude and condensates production increasing from 42,000 barrels per day (b/d) in 2013 to 66,000b/d in 2023.
* State-run firm Bahrain Petroleum (BAPCO) is planning a major overhaul and expansion of its...
The Bahrain Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Bahrain including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.
BMI's Bahrain Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Bahraini oil and gas industry.
Key Benefits
* Benchmark BMI's independent oil and gas industry forecasts for Bahrain to test consensus views - a key input for successful budgeting and strategic business planning in the Bahraini oil and gas market.
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