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nogaholding appoints BCG to prepare new energy strategy

October 26, 2022
oil and gas

Bahrain’s Oil and Gas Holding Company (nogaholding) has appointed the Boston Consulting Group (BCG), one of the world’s leading management consulting firms, to assist in the development of a National Energy Strategy for the kingdom 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 bin Isa Al Khalifa and His Royal Highness Shaikh Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, for the sector, said a statement.

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 only focus into a more progressive and responsible group of energy companies, it said.

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 the Bahrain Economic Vision 2030 and the kingdom’s 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 it will include senior officials from various ministries and other key stakeholders.

Group Chief Executive Officer of nogaholding, Mark Thomas, commented: “nogaholding is committed to transitioning its operations and aligning them with the aspirations of the Government of Bahrain and His Highness Shaikh Nasser bin Hamad Al Khalifa, His Majesty’s Representative for Humanitarian Works and Youth Affairs and Chairman of nogaholding. By working closely with BCG, we aim to deliver energy security, maximize the value of Bahrain’s natural resources, while also decarbonizing and moving to alternative energy sources over the next decade.”

BCG, established in 1963, has and continues to work closely with both the public and private sectors globally to develop strategies that help accelerate business transformations and deliver tangible benefits supporting the set business, social, economic and climate targets.