Official inauguration of new base oil plant in Bahrain held today, Tuesday 29 November

abarrelfullabarrelfull wrote on 29 Nov 2011 13:54
Tags: bahrain bapco neste refinery

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Neste Oil, The Bahrain Petroleum Company (Bapco), and nogaholding are celebrating the official opening of their new joint base oil plant in Bahrain today. The companies started up commercial production at the facility in October, 2011. The plant has a capacity of 400,000 t/a and is located at Bapco's refinery on Bahrain's east coast.

Neste Oil is responsible for selling and marketing the plant's output, which consists of high-performance VHVI (Very High Viscosity Index) Group III base oil used in premium-quality lubricants. Neste Oil owns 45% of the joint venture and contributed EUR 130 million of the plant's capital costs.

The inauguration is being organized by Bapco, which is responsible for operating the plant. His Royal Highness Prince Khalifa Bin Salman Al-Khalifa, the Prime Minister of Bahrain honors the ceremony with his presence and those attending will include and other local dignitaries. Neste Oil's President & CEO, Matti Lievonen will also attend, together with Matti Lehmus, the company's Executive Vice President, Oil Products & Renewables.

"Demand for high-performance base oil is growing all the time, and thanks to the new plant we will be able to serve our customers even more effectively and grow our base oil business in line with our strategy," says Neste Oil's President & CEO, Matti Lievonen.

"The plant features the latest technology and has operated excellently so far, and has already shipped its first product," he continues. "Cooperation between the partners has been very good and fruitful, and the construction phase of the project progressed to plan and was on-budget. I am particularly satisfied with the project's safety performance. A total of 9.6 million hours were worked on the project without a single lost time injury."

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