Bahrain plans to invest 13 billion dollar in oil and gas sector

August 29th, 2008 - 2:13 pm ICT by ANI  

Nicosia, Aug 29 (ANI): Abdul Hussain bin Ali Mirza, the Chairman of Bahrains National Oil and Gas Authority (NOGA), has said that in the coming 20 years Bahrain will spend about 13 billion dollar in the oil and gas industry.

NOGA expects that of this amount up to eight billion dollar will be spend on oil and gas exploration, development and production.

The remaining amount of five billion dollar will be invested on the upgrading and modernization of the Bahrain refinery, including the construction of a new unit at a cost of one billion dollar.

There is also a plan to increase kerosene and diesel output by eleven per cent and to modernize existing units, which if everything goes according to plans will be reduced from five to two or three.

NOGA also plans to build a new pipeline to convey Saudi Arabian crude oil to be refined in the countrys refinery. (ANI)

Related Stories

Tags: , , , , , , , , ,

Posted in World |