Bahrain state firm Bapco Energies on 4 September said it had completed the acquisition of two 12.5% stakes of subsidiary Bapco Gas held by Chevron and Kuwait’s Boubyan Petrochemicals. Bapco Energies is now sole shareholder of the firm previously known as Banagas. “Having full ownership will allow us to further integrate it within our strategic plans to establish a robust and relevant Bapco Energies,” Bapco CEO Mark Thomas says.
Bapco Gas operates three gas processing plants totalling 650mn cfd which process gas from the 2.6bn cfd Bahrain Field. From these plants the firm produces a total of 6,300 b/d of propane, 5,800 b/d of butane, and 8,600 b/d of naphtha. (CONTINUED - 139 WORDS)