HH Shaikh Nasser bin Hamad Chairs Bapco Energies Q1 Board Meeting

TDT | Manama
Email : editor@newsofbahrain.com

His Highness Shaikh Nasser bin Hamad Al Khalifa, His Majesty the King’s Representative for Humanitarian Work and Youth Affairs and Chairman of the Board of Bapco Energies, chaired the Group’s first board meeting of 2025.

During the session, HH Shaikh Nasser praised Bapco Energies for its continued success in managing a robust national energy portfolio that contributes to Bahrain’s economic growth and enhances investment opportunities in the sector.

He applauded the Group’s progress in meeting key objectives outlined earlier this year, aligned with Bahrain’s Economic Vision 2030, particularly those aimed at advancing the energy sector. HH Shaikh Nasser also highlighted the executive management’s efforts to expand partnerships with leading regional players.

Among the notable accomplishments discussed was the successful issuance of a USD 1 billion, 10-year sukuk, and the signing of a strategic agreement with U.S.-based EOG International, a specialist in oil and gas exploration.

The board reviewed the Group’s consolidated financial statements for the fiscal year ending December 31, 2024, noting strong financial results despite prevailing global economic headwinds. Operational updates included the Group’s progress in centralising its functions and streamlining processes to support Bahrain’s broader energy transformation goals.

Mark Thomas, Group Chief Executive Officer of Bapco Energies, delivered a comprehensive executive report highlighting key achievements in the first quarter of 2025. His presentation covered updates on major projects, including the Bapco Modernization Project (BMP), as well as upstream exploration and production developments.