Modernization Program (BMP) represents a major expansion and upgrade of the facility that will increase the total Refinery throughput.
On the question of financing the BMP, Dr Bartlett says Bapco
continues to progress its discussions on BMP financing primarily with prospective lenders.
TechnipFMC, jointly with Samsung Engineering and Tecnicas Reunidas, were earlier awarded a $4.2 billion contract by Bapco
for the project.
Dr Pete Bartlett, Bapco
chief executive, explained: "We are excited about the long-term growth potential of this unique joint venture and are proud to be working with a company of Greenergy's industry calibre and international reputation.
Earlier, the Supreme Council for the Environment discussed with Bapco
representatives the environmental feasibility of the MTBE compound as a petrol enhancer and additive for use in the kingdom's locally consumed fuel.
Stephen Dawson, CEO of Bapco
Closures, said: "We are delighted to formalise our working relationship with Aptargroup, which brings a world class sales and manufacturing infrastructure along with a proven track record in commercialising innovative packaging solutions.
The refiner said the key milestone was achieved last Wednesday with 'oil in' placement and a ceremony attended by senior members of Bapco
leadership was held to commemorate it.
In an internal memo addressed to employees and contractors, Bapco
management congratulated all involved for living Bapco
EHS values, and applauded them for their contribution to the achievement of such a significant milestone, which is in line with Bapco
's goal of an incident and injury free workplace.
There couldn't be a more favourable time for progressing with the large Bapco
Modernisation Programme (BMP) than right now.
TWO new steam turbo-generators (STG) built at a cost of $110 million will be launched by Bapco