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Bahrain Touts Its Largest Oil Discovery

Tuesday, April 3, 2018

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Officials from Bahrain say the country has struck black gold in the form of a new oil field off the country's western coast that represents the biggest petroleum find in the country in decades. Specific information regarding the field's composition has yet to be revealed, however.

The oil field is projected to contain "highly significant quantities of oil and gas,” but no estimate of how much oil and gas has been provided.

Oil Discovery

The field reportedly dwarves Bahrain's current reserves, marking the largest discovery of oil in the country since 1932, when extraction began on Bahrain’s first oil well within the Bahrain Oil Field.

Ryan Lackey, CC-BY-2.0, via Wikimedia Commons

Bahrain has struck black gold, which takes the form of the discovery of a new oil field off the country's western coast. Specific information regarding the oil field's composition has yet to be revealed, however.

According to Gulf News, the field is forecast to contain significant quantities of tight oil and deeply located gas.

Modeling and analytical studies are being led by Bahrain’s National Oil and Gas Authority, working in collaboration with private partners.

“Following the initial discovery of the resource, detailed analysis of the find’s content, size and extraction viability has been undertaken alongside internationally renowned petroleum industry consultants, DeGolyer and MacNaughton [Demac],” said Minister of Oil Shaikh Mohammad Bin Khalifa Al Khalifa.

The discovery is also slated to support long-term downstream endeavors, following on the heels of an increase in oil and gas exploration projects. This has been in response to directives from King Hamad to the Higher Committee for Natural Resources and Economic Security.

According to CNN Money, Bahrain is the smallest oil producer in the Gulf, pumping 50,000 barrels of crude a day in 2014. The country controls one other oil field fully, with revenue from the Abu Sa'fah offshore field split with Saudi Arabia, per a 1958 agreement.

Additional information on the oil field will be provided by the oil ministry at a press conference on Wednesday.

   

Tagged categories: AS; Economy; Government; Middle East; Offshore; Oil and Gas; Program/Project Management

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