Italian oil and gas contractor, Saipem, signed a memorandum of understanding (MoU) with Gulf Petrochemical Industries Company (GPIC) to study the feasibility of 3 projects in Bahrain.
GPIC is a joint venture (JV) equally owned by the National Oil and Gas Holding Company in Bahrain, SABIC Agri-nutrient Investments in Saudi Arabia, and Petrochemical Industries Co. in Kuwait.
The first project is in relation to the increase of GPIC’s daily plant production of ammonia, urea and methanol through technical solutions that may reduce energy consumption and use natural gas.
The second project consists of a pre-feasibility study to build a new mega ammonia and urea plant, while the third aims to determine the quality of gas feedstock in the fields discovered in 2018 off the west coast of Bahrain.
“The MoU marks a significant opportunity in Saipem’s path towards the expansion and strengthening of its interests and relationships in this strategic area,” Maurizio Coratella, Chief Operating Officer of the Saipem Onshore E&C Division, said.
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