On the Sidelines of Gateway Gulf 2026, Tamkeen Signs MoU with EY MENA to Establish an EY Talent Hub in Bahrain and Create 125 Jobs, Supporting MENA

MANAMA, Bahrain, Nov. 3, 2026 /PRNewswire/ -- On the sidelines of Gateway Gulf 2026, the Labour Fund (Tamkeen) announced the signing of a Memorandum of Understanding (MoU) with EY MENA that aims to establish an EY Talent Hub in the Kingdom of Bahrain. Once established, the hub is expected to support clients in Bahrain and across the wider region by delivering specialized professional services and creating 125 quality employment opportunities for Bahrainis over a three-year period.

Under the initiative, a three-year program will be implemented from 2027 to 2029. It will focus on attracting and developing Bahraini talent, particularly fresh graduates and new entrants to the labor market, for roles across audit, consulting, tax, strategy, and transactions. The hub also aims to equip Bahraini talent with the practical experience and skills required for future professions, particularly in artificial intelligence (AI), digital transformation, cybersecurity, sustainability, and financial services. This will help meet the needs of clients in Bahrain and across the wider region for specialized talent in high-growth sectors, while enhancing the competitiveness of Bahraini professionals and reinforcing Bahrain's position as a hub for talent and high-value professional services.

Commenting on the initiative, Her Excellency Ms. Maha Abdulhameed Mofeez, Chief Executive of the Labour Fund (Tamkeen), said: "At Tamkeen, we remain committed to directing our support towards initiatives that create sustainable employment opportunities for Bahrainis in sectors with strong growth potential and significant economic impact. This MoU with EY that aims to establish an EY Talent Hub in the Kingdom of Bahrain supports the development of Bahraini talent by equipping them with the advanced skills and practical experience required for future professions, while benefiting from the company's global expertise and best practices. This comes as part of our ongoing efforts to support Bahrainis in accessing quality, high-value employment opportunities and enabling their career growth and progression in line with evolving labor market needs, ultimately contributing to strengthening the competitiveness of the national economy."

Nader Rahimi, EY MENA Assurance Partner, said: "As new technologies reshape business and the skills needed to succeed, investing in talent must keep pace. This initiative with Tamkeen, with the support of the Bahrain Economic Development Board, is about equipping Bahraini professionals with the practical experience, capabilities, and confidence to thrive in a rapidly evolving environment. By developing skills across areas such as AI, digital transformation, cybersecurity, and sustainability, we aim to prepare the next generation not only to adapt to change, but to lead through it. Our ambition is to empower the decision makers of the future with the knowledge and experience to create long-term value for their communities, local businesses, and the wider regional economy."

EY brings together capabilities across audit, consulting, tax, strategy and transactions, combining professional expertise with experience in areas such as technology and transformation to develop talent and support organizations navigating an evolving business environment.

This initiative forms part of Tamkeen's ongoing efforts to support the creation of quality employment opportunities for Bahrainis and empower private sector enterprises to invest in national talent, in line with national priorities for building a sustainable, innovation- and knowledge-driven economy.

The initiative also aligns with Tamkeen's strategic priorities for 2026, which focus on supporting initiatives with significant economic impact, enhancing private sector competitiveness, aligning skills with labor market needs, and adopting innovative approaches to stimulate the growth and expansion of startups, contributing to sustainable economic development in the Kingdom.

 

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On the Sidelines of Gateway Gulf 2026, Tamkeen Signs MoU with EY MENA to Establish an EY Talent Hub in Bahrain and Create 125 Jobs, Supporting MENA

CARACAS, Venezuela, Nov. 3, 2026 /PRNewswire/ -- North American Blue Energy Partners (NABEP) has restarted a key furnace at its Zuata 2 (Petrocedeño) facility in the Orinoco Belt after five years, a step the company expects to add 8,000 to 10,000 barrels of oil per day within the next few weeks. Over a full year, that's between 2.92 million and 3.65 million barrels of crude, worth hundreds of millions of dollars at today's prices, from a single furnace.

The furnace, which feeds one of the facility's main processing lines, heats the extra-heavy crude produced at Zuata 2 to the temperatures needed for the next stages of processing. The crude comes out of the ground mixed with water. Heating it allows the two to be separated. That is an important step toward bringing the oil to the standard it must meet before it can be sold – no more than 2% water.

NABEP completed repairs, technical inspections and mechanical testing before restarting the furnace on October 31. The processing line can handle about 210,000 barrels a day, giving Zuata 2 room to grow.

"Capacity that sat idle for years is working for Venezuela again thanks to our team in the east," said NABEP CEO Alejandro Betancourt. "Two years ago, our company produced about 18,000 barrels a day. This furnace can help us add about half that amount to our overall production. Upgrades like this accelerate our growth and will put many Venezuelans back to work."

The restart builds on NABEP's October 31 update, which announced that its rig fleet will grow to 41 rigs this month. NABEP's total production reached 223,509 barrels of oil equivalent per day on October 19, up from about 200,000 in August, when NABEP signed its agreement with the U.S. Departments of State and War to significantly expand oil production in Venezuela. The first million barrels of oil linked to that agreement arrived in Corpus Christi, Texas, on October 27.

NABEP controls the rights to commercialize more than 65 billion barrels of P1 oil reserves in Venezuela. Its goal is to produce more than 1 million barrels of oil per day, with a milestone of 500,000 barrels per day by the end of 2028. The company employs 5,000 people and supports 10,000 contract employees in Venezuela. In two years, it has scaled production from approximately 18,000 barrels per day to more than 200,000, funded by roughly $1 billion of its own investment.

About North American Blue Energy Partners

North American Blue Energy Partners (NABEP) is an independent oil exploration and production company operating in North and Latin America, with offices in Caracas, Maracaibo and Lechería. NABEP is committed to the responsible development of energy resources, the safety of its people and the prosperity of the communities where it operates. www.nabep.net

Media contact: press@nabep.com

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NABEP Restarts Key Orinoco Belt Furnace in Continued Production Push

NABEP Restarts Key Orinoco Belt Furnace in Continued Production Push