BAPCO, TechnipFMC sign $4.2bn modernisation deal

Manama : Bapco yesterday announced signing a multi-billion dollar Engineering, Procurement and Construction (EPC) services contract with a consortium led by TechniFMC for Bapco Modernisation Programme (BMP). 

The $4.2 billion modernisation deal was signed by Shaikh Mohamed Bin Khalifa Al Khalifa, the Minister of Oil and Chairman of Bapco’s Board of Directors, with Douglas Pferdehirt, the Chief Executive Officer of TechnipFMC USA in presence of His Royal Highness, Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, in Washington DC. 

TechnipFMC Consortium is expected to complete the EPC works for this mega-project by early 2022. The TechnipFMC led Consortium, in the form of a Joint Venture, comprises Tecnicas Reunidas of Spain and Samsung of Korea.

The BMP will increase Bapco’s total refinery throughput from 265,000 barrels-a-day to 360,000 barrels-a-day. 

The deal aims at optimizing refinery configuration, maximizing gross margin, enhancing energy efficiency, and ensuring environmental compliance by deploying advanced bottom-of-the-barrel conversion technologies.

Following the contract signing ceremony, Shaikh Mohamed said, “We have put together a strong team and we all look forward to the challenge of assembling a world-class programme for Bahrain and executing our work safely and productively.”