Syed Hussein Al -Qassab
Bapco Enemas CEO Mark Thomas revealed the approach of the Babco refinery updating project to enter the full operating phase, to a research to implement small nuclear reactors technologies during the coming years, within a comprehensive strategic vision.
The CEO of Bapco Enemz called for a practical balance between traditional and renewable energy sources, stressing that the world does not live in a “exit of hydrocarbons”, but rather witnesses a qualitative addition to the global energy mix, before confirming that energy security is no longer an option, but a strategic priority.
He said, during his speech in the thirty -second edition of the Middle East Petroleum and Gas Conference (MPGC 32), that global challenges such as political tensions, unrest in supply chains, and organizational divisions have become a permanent reality that imposes on the energy sector to rethink traditional concepts, indicating that energy security is no longer an option, but a strategic priority.
He explained that the year 2024 witnessed the arrival of electricity generation from wind sources and solar energy to 15% of the total supplies, while global oil production reached its highest level in history.
He pointed out that the global demand for natural gas also increased by 3%, driven by strong demand in Asia and Europe.
He stressed that the current reality does not reflect a “transition far from fossil fuels”, but rather an entry into the “Addition of Energy” course, noting that oil and gas are still the basis for the future of energy, and not an obstacle to the transformation.
The Babco Engels initiative, which is to sign a strategic agreement with Eog Resources to explore unconventional gas.
He explained that these projects not only reflect the ambitions of exploration, but to build confidence in the future resources base, and open new horizons thanks to their dependence on the latest advanced technologies and artificial intelligence algorithms.
The approach of the Babco Refinery updating project, which cost $ 7 billion, was approaching the entry of the full operating stage, stressing that it will rise with the efficiency of refining, the elasticity of products, and environmental performance.
Bapco CEO expressed his regret for the loss of three employees in an unfortunate accident this month, stressing that safety remains at the heart of the company’s priorities and an indispensable pillar in all operations.
He revealed the Babco Enemz study of alternative energy projects, including solar energy and marine wind energy, as well as researching the application of small nuclear reactors technologies in the coming years, as part of a comprehensive strategic vision.
He called on the participants to think of long -term and planning a flexible and sustainable future, noting that the Fourth Industrial Revolution requires integrated answers about the energy source that he will pay.
He concluded by emphasizing that the MPGC conference is not just a periodic effectiveness, but rather a real platform for exchanging practical solutions, and pushing the wheel of progress in the energy sector towards a more balanced, efficient and sustainable future.
