Manama: The Gulf Petrochemical Industries Company (GPIC) exceeded all its production targets for 2017, including the highest daily production of Urea (2,055 metric tonnes) and a new record per month for methanol (62,300 metric tonnes).
This resulted in a total production of urea, ammonia and methanol reaching 1,604,725 metric tonnes, an increase of 1.4 per cent over the previous year.
Furthermore, 1,204,486 million tonnes of the company’s products were shipped on board 71 vessels throughout the year and these fetched the best prices from world markets.
This was announced by board of directors chairman Dr Ahmed Al Sharyan during the company’s annual general meeting at The Ritz-Carlton Bahrain.
Oil Minister Shaikh Mohammed bin Khalifa Al Khalifa, representing the Bahrain side, presided over the meeting.
The Kuwaiti side was represented by Petrochemical Industries Company (PIC) finance manager Talal Al Sultan, and the Saudi side was represented by Saudi Basic Industries Corporation director, venture management and joint ventures affairs, Ahmed Al Duraian.
The shareholders appreciated the company’s financial position and its achievements.
“The company continued its achievements in the last year with the combined efforts of all, which resulted in reduced spending and increased production, in spite of the challenges faced by the petrochemical industry,” said Dr Al Sharyan.
The company also achieved a new record of more than 27 million hours without a lost time accident, maintaining a clean slate since May 2002, said president Dr Abdulrahman Jawahery.
He said the carbon dioxide recovery unit would continue to operate and help the company reduce emissions, while maintaining environmental safety according to the government’s standards.
“The company has maintained efficiency of its preventive maintenance systems, which ensures necessary operational efficiency for all units,” Dr Jawahery said.
“GPIC is committed to a decimal plan for renewal and periodic replacement of equipment according to the validity cycle and constantly evaluates its effectiveness. There is an advanced system for distribution control and monitoring of operations to ensure factories work at optimum conditions.”
Dr Jawahery also spoke about the company’s efforts in the field of training and development of human resources, mentioning its efforts in training Bahrainis.
“The training and development centre had been transferred into an academy for leadership and learning and had contributed in enhancing the efficiency of human resources, while keeping abreast of technological and scientific developments,” he said.
Finally, the board of directors spoke of the local, regional and international awards received by the company during the year, the most important being the Royal Society of Prevention of Accidents Golden Category Award.
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