Name of Client : Bahrain Petroleum
Company (Bapco)

Estimated Budget : $800,000,000

Facility Type : Petroleum

Sector : Exploration & Upstream Production Refining

Location : Sitra, Bahrain

Main Contractor : Samsung Engineering Company TechnipFMC and Tecnicas Reunidas

Award Date : 2018-Q1

Background

The residue conversion unit (RCU) is a part of the Bapco Modernisation Programme (BMP), which aims to rehabilitate the refinery as well as increase capacity from 267,000 barrels a day (bpd) to 380,000 bpd. The RCU will be developed first because it is a primary unit in the process of converting heavier crude oil types into lighter-grade products.

Project Scope

The project scope includes a new ebullated bed residue hydrocracking unit with a capacity of 65,000 barrels per stream day (bpsd), LC-fining residue hydrocracking technology licensed by Chevron Lummus Global, mechanical work, civil work, and piping work.

Project Status

The construction work is expected to be completed in Q4 2023, while the commissioning will be started in Q1 2024.

Project Finance

Nogaholding, the investment and business development arm of Bahrain’s National Oil and Gas Authority (Noga), is investing in the project. The Export-Import Bank of Korea (Korea Eximbank) and Korea Trade Insurance (K-sure) have agreed to provide $734 million of financing for the project. Bapco has also reached an agreement with the UK Export Finance (UKEF) for an ECA agreement.

Project Schedules

Project start: 2Q-2009

Feasibility Study: 2Q-2009

FEED ITB: 1Q-2014

FEED: 3Q-2014

EPC ITB: 2Q-2016

E&P: 1Q-2018

Construction: 1Q-2019

Commission: 1Q-2024

Completion: 3Q-2024