The year 2012 marks 80 years of development within the island-Kingdom's oil and gas industry. Current production stands at 45,000 bopd, approximately 30,000 barrels less than at its peak in 1975, but still 13 percent greater than 2011 output. The government has announced targets to reach production of 100,000 barrels of oil per day (bopd) by 2017.
More than $20 billion of investment will boost the size and capacity of the country’s hydrocarbons industry, with up to $15 billion going to upstream efforts.
Meanwhile Nogaholding, the investment arm of the national oil and gas authority, grapples with the challenges of financing this landmark brownfield project as the global economic downturn and perceptions of post-Arab Spring instability continue to strain the debt markets. The Oil & Gas Year Bahrain 2012 features interviews, comment and opinion from the most important names in Bahrain’s hydrocarbons industry.