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Oil firms prepared to tackle security issues

Manama, November 10, 2010

Bahrain's oil companies and oil installations have 'active and comprehensive' risk management systems in place to tackle any internal security issues, it has been revealed.

Oil and Gas Affairs Minister and National Oil and Gas Authority (Noga) chairman Dr Abdulhussain Mirza said there has been a significant enhancement in national security measures in the recent past.

'National security is taken very seriously in Bahrain at the highest political level,' he said.

'Not only is Bahrain fully prepared to tackle any threat, but we have also ensured that companies in the oil and gas sector as well as the petrochemical industry have detailed, current, and active risk management systems in place.

'We also have in place major incident plans that are practised and rehearsed on a regular basis,' he added.

Dr Mirza was speaking while opening the inaugural Energy Security - Potential for EU-GCC Co-operation conference at the Diplomat Radisson Blu SAS Hotel, Residence and Spa.

The two-day conference is organised by the Gulf Research Centre Foundation, in co-operation with the Bahrain Centre for Strategic International and Energy Studies, under the patronage of Deputy Prime Minister Shaikh Khalid bin Abdulla Al Khalifa.

'We have to be fully prepared for external threats because energy security is vital,' Dr Mirza said.

'The threat of terrorism, wars, and subsequently the breaking of the supply chain can spell disaster because we are so dependent on energy supplies.

'Without steady energy supplies, the world we live in and everything that we take for granted will fall apart,' he added.

He said the Middle East is mainly the supplier of oil and gas in return for revenues.

'But countries in the region are now developing and diversifying their economies and European Union countries could take a more active role in investing in the region.'

Dr Mirza said the Middle East is known for its oil and gas energy resources. 'The world needs all the oil and gas that we can produce but we also need alternative energy sources.'

Dr Mirza advocated the setting up of joint business ventures between Bahrain and the EU countries saying these would be beneficial to both parties.

'The need for alternative energy sources is very obvious for many reasons and we do not see alternative energy as our competition,' he said.

'On the contrary, we like it and we would like to be at the forefront of renewable energy technologies.

'Because of local geographical conditions, this region can easily be involved with solar, wind and tidal energy and biofuel production,' he added.

He said EU companies could set up new facilities, businesses, and regional branches.

'This has multiple benefits, including technical ones such as reducing the need for energy.'

Dr Mirza said Noga has encouraged international oil companies to come and become partners in ensuring sustainability and security of energy supplies to meet current and future needs.

'They are also currently actively exploring for oil and gas in our offshore blocks and are helping us to develop and increase the production of oil and gas from our 78-year-old Bahrain Field,' he said.

'We are also in the process of receiving bids to construct a liquefied natural gas receiving and re-gassing facility in Bahrain and embarking on a major refinery modernisation and upgrading programme which will cost over $5 billion.

'These examples provide opportunities for foreign companies to do business with Bahrain,' he added.-TradeArabia News Service




Tags: Bahrain | Safety | defence | security risks | Oil companies |

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