Bapco’s first refinery began operations in the 1930s, with a capacity of 10,000 barrels per day. In the late 1960s the refinery was expanded to allow for a 250,000 barrel a day capacity. Today the refinery is a critical part of Bahrain’s industrial infrastructure. The Bapco Modernisation Program (BMP) is the latest expansion of Bapco’s refinery and will increase capacity to 380,000 barrels per day.
The BMP will transform Bapco’s profitability and employment opportunities and will be a major contributor to Bahrain’s economy.
“It is the single largest transaction in Bahrain estimated to cost $5.7 billion.”
Newton Legal has been Bapco’s external counsel from the project’s initial stages in 2013 to date. An early task for Newton Legal was to conduct a due diligence study of Bapco’s core business and ancillary businesses to determine potential liabilities.
Since then we have advised the company on drafting and negotiating various agreements such as:
- BMP’s Project Management Contractors and the Front End Engineering Design Contractor
- The appointments of financial advisers, legal advisers and the environmental advisor
- The construction of new substations and power supply arrangements