Boston, MA -- (SBWIRE) -- 07/13/2012 -- BMI View: Bahrain has a far smaller oil and gas resource base than its neighbours, but is a leading regional refined products exporter. In the coming decade, the country may begin importing LNG, but will also boost both oil and gas production. The country will continue to enjoy revenues from the Abu Saafa field, which is shared with Saudi Arabia, but will also continue importing Saudi crude oil to feed the Sitra refinery, which may be expanded. Despite the political unrest in 2011, Bahrain has not fallen in our riskreward ratings as the country remains open to foreign investment.
We highlight these trends and developments in Bahrain's oil and gas sector:
- BMI sees Bahraini oil production rising to as much as 95,000 barrels per day (b/d) by 2021, in line with efforts to boost output at the mature Bahrain field. We expect oil consumption to grow to at least 60,000b/d. Increased oil flows from Saudi Arabia are also expected, potentially rising to 175,000b/d later in the current decade.
- We expect both oil and gas reserves to decline in the period 2012-21, pending new discoveries. Oil reserves are expected to fall to 112mn barrels (bbl) by 2021, with gas reserves falling to around 80bn cubic metres (bcm).
- Gas production and consumption are likely to grow in tandem to just around 19.5bcm by 2021.
- Risks to our forecasts include final approval for the expansion of the Sitra refinery, enlargement of the Saudi import pipeline, as well as for a proposed LNG import terminal to feed growing gas demand.
- State-run firms Bahrain Petroleum (BAPCO) and Saudi Aramco are considering a scheme to replace, upgrade, and redirect a pipeline that links Saudi oil fields to Bahrain's only refinery, said Bahraini energy minister Abdul Hussein Mirza in March 2012. The project will increase the capacity of the pipeline to 350,000b/d, the minister told Dow Jones Newswires in an interview. The two countries are expected to finish the front-end engineering and design, or FEED, by the end of 2012, and open the tender in 2013. The estimated cost is around US$350mn.
View Full Report Details and Table of Contents
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Energy research reports at Fast Market Research
You may also be interested in these related reports:
- Northern Oil & Gas, Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q1, 2012
- Global Oil and Gas Survey 2012-2013: Market Trends, Buyer Spend and Procurement Strategies in the Global Oil and Gas Industry
- Global Oil and Gas Survey 2012-2013: Market Trends, Marketing Spend and Sales Strategies in the Global Oil and Gas Industry
- Quicksilver Resources Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q1, 2012
- Bellatrix Exploration Ltd. Oil & Gas Exploration and Production Operations and Cost Analysis - Q2, 2011
- PetroSands Resources (Canada) Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q2, 2011
- Rex Energy Corporation Oil & Gas Exploration and Production Operations and Cost Analysis - Q1, 2012
- Trinidad & Tobago Oil & Gas Report Q2 2012
- China Oil & Gas Report Q2 2012
- Apco Oil & Gas International Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q2, 2011