According to official statistics, Bahrain's exports in the second quarter of 1998 amounted to BD302 million versus BD389 million in the corresponding period in 1997. This was chiefly caused by a decline of BD76 million in oil exports, which amounted to BD160 million only. Crude oil constitutes some 16 per cent of the GDP but the petroleum industry at large contributes 25 per cent after adding the oil refining activity. Moreover, for 1998, income from the energy sector was projected to be BD362 million or 57 per cent of total revenue. Of this, BD313.5 million stems from oil and the rest from the sale of gas.
Oil alone constitutes half of the treasury income.
About 3,000 people work for Bapco including some 750 employed by contractors. Compared to oil, Bahrain is a more important producer of non-associated gas. Reserves, including those of the Khuff Zone, amount to at least 150 billion cubic metres, enough to last for 50 years at current production rates. Natural gas production is basically devoted to local consumption. A gas-liquefaction plant was established in 1979 to make use of the associated gas, which prior to this date was being wasted.