PARIS: TotalEnergies, a global integrated energy company, and Bapco Energies, the leading energy company in Bahrain, have agreed to cooperate in optimizing the Sitra refinery and trading the petroleum products produced there.
The agreement was reached during a meeting in Bahrain between Patrick Pouyanné, Chairman and CEO of TotalEnergies, His Highness Shaikh Nasser bin Hamad Al Khalifa, Representative of HM the King of Bahrain for Humanitarian Works and Youth Affairs and Chairman of Bapco Energies, and Mark Thomas, Group CEO of Bapco Energies.
TotalEnergies will support Bapco Energies in enhancing the performance and efficiency of the Sitra refinery, which is undergoing a US$7 billion upgrade project that will increase its capacity from 267,000 to 360,000 barrels per day. TotalEnergies will also leverage its global oil and feedstock supply network and its refining and trading expertise to help Bapco Energies market its petroleum products to a wider customer base.
The two companies also expressed their intention to explore further opportunities for collaboration in other energy sectors, such as liquefied natural gas (LNG) and renewable power, in line with Bahrain’s vision of a sustainable and diversified energy future.
Patrick Pouyanné, Chairman and CEO of TotalEnergies, said: “We are pleased to have been selected by the Bahraini authorities to support Bapco Energies in optimizing their downstream petroleum operations, with a view to maximizing value for Bahrain. I sincerely hope that this new partnership marks the beginning of a promising relationship between TotalEnergies and the Kingdom of Bahrain. We are indeed a global integrated energy company and are willing to bring for the benefit of the Kingdom of Bahrein and Bapco Energies our full expertise along integrated oil, LNG and power value chains. We will work to extend our collaboration beyond oil and petroleum products to potential future developments in other energies, such as LNG or renewable power.”
His Highness Shaikh Nasser bin Hamad Al Khalifa, His Majesty the King’s Representative for Humanitarian Works and Youth Affairs and Chairman of Bapco Energies, said: “We are pleased to welcome such a respected and experienced global player in the energy trading sector. Bapco Energies and TotalEnergies’ collaboration will pursue opportunities for the Kingdom of Bahrain’s oil & gas products and offer new energy solutions to our customers. With the start-up of our US$7 billion Bapco Modernization Programme (BMP) refinery upgrade project later this year, our partnership with TotalEnergies will help build a quality customer base for our expanded production. We look forward to working in partnership with the TotalEnergies’ team and bringing their experience and technology to Bapco Energies.”
Mark Thomas, Group CEO of Bapco Energies, said: “This new collaboration with TotalEnergies will bring incremental value to the Kingdom of Bahrain and Bapco Energies through the application of TotalEnergies’ global expertise in product trading and feedstock optimization. We are looking forward to partnering with TotalEnergies to building the Bapco Energies brand as a reliable and trusted global supplier of quality products.”