Oil & Gas
A joint venture company with three shareholders: nogaholding and Bapco jointly own 55% equity and Neste Oil Company of Finland 45% equity. This is the first company of its kind in the region.
The company was formed in 2009 to build a lube base oil plant and associated export facilities at the Bapco Refinery. While Bapco will be operating and maintaining the plant on behalf of Neste Oil will market the products from this facility. BLBOC will manage and operate the joint venture through its partners nogaholding, Bapco and Neste Oil.
The production capacity of the Lube Base Oil Plant will be 400,000 tonnes a year of Very High Viscosity Index (VHVI), Group III Lubricant Base Oils, which are products that are in increasing demand in Europe and North America to meet the requirements of the next generation of lubricant performance and environmental standards. The manufacture of Group III lubricant base oils from the hydrocracker bottoms stream using catalytic iso-dewaxing technology was found financially very attractive to Bahrain. The plant will be commissioned in the second half of 2011.