His Highness Shaikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King for Humanitarian Works and Youth Affairs, and Chairman of the Board of Directors of the Oil and Gas Holding Company B.S.C. (nogaholding), valued the past endeavours and efforts of the Company to advance the development of the oil and gas sector, in line with the vision of His Majesty King Hamad bin Isa Al Khalifa, and the aspirations of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister.
This came while His Highness chaired the third meeting of nogaholding’s Board of Directors this year. His Highness Shaikh Nasser discussed with the Board the progress made in achieving the goals that were approved at the beginning of the year. His Highness stressed the need to integrate efforts and expertise between operating companies and share their resources to advance the strategic transformation of the oil and gas sector, noting the importance of raising the level of efficiency and increasing the rate of productivity of the affiliated companies.
During the meeting, His Highness highlighted a set of decisions that will regulate some of the companies’ activities and focus on activities that support the main sources of income to achieve commercial success, praising the support the Company receives from the Higher Committee for Energy and Natural Resources. The Board reviewed the executive management report, which dealt with the Company’s latest developments, and the transformational plans of a number of strategic projects. In addition, the Board approved a set of decisions related to supporting quality projects and improving internal work systems.
Moreover, the Board discussed the stages of completion of the Bahrain Petroleum Company (Bapco) refinery modernisation project, stressing the strategic importance of the project in serving the refining sector in the region The development of Tatweer Petroleum Company, with regard to research and exploration projects as well as modern exploration technologies that the company is working to provide, were also highlighted during the meeting.
In conclusion of the meeting, His Highness Shaikh Nasser praised the important and distinguished role played by nogaholding in developing this vital sector, with the aim of achieving the objectives of Bahrain Economic Vision 2030.