HRH Premier: Bahrain's oil industry promising

Manama, Mar. 10 (BNA): His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa has asserted that Bahrain boasts a long history in the oil industry, adding that the government is still interested in developing such a promising sector and encouraging investment in it, being a key tributary to the national economy, and a vital and strategic resource to boost all fields of development. HRH Premier expressed pride in the Bahraini citizens and their acclaimed competence in the oil sector, whose development phases, he said, have been carried out by Bahrainis. During His Majesty King Hamad bin Isa Al Khalifa’s prosperous era, the kingdom is determined to continue its programmes aimed at increasing revenues and resources, and stimulating the effective economic sectors, HRH Premier said, praising the role played by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, in this regard. The Prime Minister stressed the government’s keenness to take advantage of the steady growth of the oil sector to serve various development sectors on which the kingdom’s economic structure is based, which will contribute to diversifying income resources and enhancing Bahrain’s ability to face various global economic challenges. HRH Premier made the statements while receiving, at the Gudaibiya Palace today, the Bahrain Petroleum Company (Bapco)’s Board of Directors, led by the Minister of Oil, Shaikh Mohammed bin Khalifa Al Khalifa, who extended to him sincerest thanks and appreciation for laying the foundation stone for the Bapco Modernisation Programme (BMP), which is the largest industrial project in the kingdom’s history. HRH Premier asserted that a promising future lays ahead for the oil industry in the kingdom, in light of the use of modern technology in the production and exploration, lauding the efforts exerted by the Ministry of Oil and Bapco in developing the oil industry in the kingdom and preparing distinguished national competencies in this regard. HRH the Prime Minister highlighted the importance of the BMP in developing the kingdom’s oil infrastructure, increasing the refinery’s capacity through using modern technology to improve the quality of production and exportation in accordance with the international environmental standards, and making it able to advance the oil industry so as to reach the level of developed countries in this field. HRH Premier pointed out that the government strived to invest in oil resources, despite their limited size, to launch a comprehensive oil industry, noting that the oil industry has become one of the major industries nowadays in the region. The Prime Minister expressed pride in the progress and prestigious international reputation reached by the Bahraini oil industry. Oil Minister and Bapco board chairman extended sincere thanks and appreciation to HRH the Prime Minister for his interest in the oil sector, highlighting the Premier’s role in establishing mega oil industries and efforts to constantly developing and modernising them. He also extended heartfelt thanks and gratitude to HRH the Prime Minister for patronising the foundation stone-laying ceremony of the BMP.