King Hamad, Saudi Crown Prince inaugurate new oil pipeline

MANAMA: His Majesty King Hamad yesterday opened a new oil pipeline between Bahrain and Saudi Arabia.

The AB-4 pipeline was launched during an event at Shaikh Isa Air Base, held to celebrate more than 70 years of energy co-operation between the two nations.

Saudi Crown Prince, Deputy Prime Minister and Defence Minister Mohammad bin Salman bin Abdulaziz Al Saud, His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier and senior Bahraini and Saudi officials attended the ceremony.

His Majesty said relations with Saudi Arabia are underpinned by centuries-old ties, common destiny and a strong bond between its people.

The pipeline project is a vital economic milestone which will form the nexus for further integrated projects, the King said.

He praised co-operation between Bahrain Petroleum Company (Bapco) and Saudi Aramco, a partnership which has continually enhanced relations since 1945.

Oil Minister Shaikh Mohammed bin Khalifa Al Khalifa said the 112km AB-4 pipeline will have a capacity averaging 358,000 barrels per day.

Its launch signals the biggest expansion in the history of Bahrain’s oil refinery – a massive project which is expected to be completed within four years, he pointed out.

The overall value of crude oil imported from Saudi Arabia would exceed $10 billion per year in refined oil, the minister said.

The pipeline will build on Bahrain’s many achievements, most notably the recent large oil discovery off Bahrain’s coast.

The AB-4 oil pipeline will replace the existing 73-year-old pipeline system, and is the only current venture in the GCC linking two countries.

Source: http://www.gdnonline.com/Details/442910