Bahrain’s Oil/Gas State Holding Company To Focus On Strategy
The board of directors of the newly-established Holding Company for Oil and Gas in Bahrain met for the first time on 18 September under the chairmanship of the Minister of Oil and Gas Affairs and Chairman of the National Oil and Gas Authority (NOGA) 'Abd al-Husain Mirza. The company was set up by Royal Decree 77 issued on 10 August. Mr Mirza said the new company needs to draw up its strategy over the next five years by examining the experience of similar companies in the oil producing countries in the Gulf and elsewhere. It may also seek the services of consultants in preparing the organizational structure and legal and accounting systems. The board of the holding company consists of chairman Mirza and six members: Rashid al-Mi'raj, Mustafa al-Sayyid, Shaikh Muhammad bin Khalifah Al Khalifah, 'Abd al-Rahman Jawahiri, Majid Abu al-Qasim and Ahmad al-Nu'aimi. NOGA’s assistant deputy for planning and studies Ahmad al-Sharian was appointed secretary for the new company. The new company will operate under NOGA’s supervision and the government’s stakes in the state-owned firms will be transferred to it (MEES, 6 August). These firms are Bahrain Petroleum Company (BAPCO – 100% state share), Banagas (75%), Bahrain Gas Company Expansion (100%), Gulf Petrochemical Industries Company (GPIC – 33.33%) and Bahrain Avation Fuel Company (Bafco- 60%).
Copyright MEES 2007.
