The multibillion dollar BAPCO expansion project is 50% complete, Gulf Daily News reported, citing the oil minister, Sheikh Mohamed bin Khalifa bin Ahmed Al Khalifa. The project is set to be completed in the third quarter of 2022, despite coronavirus challenges.
Bahrain has ambitious growth plans, including potentially moving some energy assets to a state-run fund, selling shares to local investors.
“The idea is to make some of the oil and gas assets available for the private sector,” he said. “We have been talking to the pension fund here, and the quality of the assets we have are certainly part of what they would regard as good investments; they have good returns.”
“The idea behind the energy sector fund is to help us grow further and to expand downstream and upstream,” he added. “Today we are in the initial stages.”