During the first nine months of 2020, Bahrain awarded around 134 tenders in the oil sector worth $733.8 million, according to Bahrain’s Tender Board. Overall, Bahrain awarded a total of 1022 tenders worth $2.7 billion during the same period. The majority of the contracts were for the oil sector, followed by construction and engineering and the materials, equipment and services sectors.
Tender Board Chairman Shaikh Nayef bin Khalid Al Khalifa told the media, “Despite the ongoing global economic challenges, the first nine months of 2020 have seen Bahrain award more than 1,000 contracts valued at well over $2 billion to businesses in all sectors across the board. This robust performance is indicative of Bahrain’s commitment and ability to remain open for business even in times of crisis. Of particular note is the consistently high value of contracts in the kingdom’s thriving construction and engineering sector, testament to the rich opportunity on offer owing to our extensive, multi-billion dollar pipeline of projects there.”
Last month, state news agency BNA reported that Bahrain’s Oil and Gas and US-based oil giant Chevron have signed an agreement to conduct a joint study assessing future demand for gas in the kingdom and identify potential sources of supply.
The company also recently signed a Memorandum of Understanding (MoU) with Air Products to boost the usage of hydrogen energy. Mazan Matar, Chairman of Bahrain LNG WLL signed the MoU with Imtiaz Mahtab, Air Products President of Middle East, Egypt and Turkey.