nogaholding appoints BCG to help develop new energy strategy

THE Oil and Gas Holding Company (nogaholding) has appointed the Boston Consulting Group (BCG), a leading management consulting firm, to assist in the development of a National Energy Strategy for Bahrain and build a supporting Operating Strategy for nogaholding and its portfolio companies.

This announcement comes as nogaholding undergoes a strategic transformation in line with the vision of His Majesty King Hamad and His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, for the sector.

The National Energy Strategy and the Operating Strategy will facilitate and drive the transition of the nogaholding group of companies from a traditional oil and gas company into a more progressive and responsible group of energy companies.

The strategy will also pave the way and prepare the oil and gas sector for the journey towards delivering a more sustainable, long-term approach aligned with Vision 2030 and the kingdom’ net-zero goals outlined by HRH the Crown Prince and Prime Minister at COP26.

To develop the National Energy Strategy, a steering committee will be appointed and will include senior officials from various ministries and other key stakeholders.

Group chief executive of nogaholding Mark Thomas said: “nogaholding is committed to transitioning its operations and aligning them with the aspirations of the government and Shaikh Nasser bin Hamad Al Khalifa, His Majesty’s representative for humanitarian work and youth affairs and chairman of nogaholding.

“By working closely with BCG, we aim to deliver energy security, maximise the value of Bahrain’s natural resources, while also decarbonising and moving to alternative energy sources over the next decade.”

Source: https://www.gdnonline.com/Details/1145963