Bahrain has said it has made a huge oil discovery off the west coast of the country, “the largest oil discovery since 1932.”
This was shared on Sunday by Bahrain News Agency, which reported that the discovery of a new tight oil and deep gas resource in the Khaleej Al Bahrain Basin, represented the largest discovery of oil in the Kingdom since 1932 when extraction started on Bahrain’s first oil well within the Bahrain Oil Field.
While it did not provide the exact numbers when it comes to the size of the discovery, the news agency, citing government sources said that the new resource is forecast to contain highly significant quantities of tight oil and deep gas, understood to dwarf Bahrain’s current reserves.
According to the country’s official news agency, Bahrain’s Minister of Oil, Shaikh Mohamed bin Khalifa Al Khalifa, said: “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).
“Today we announce that initial analysis demonstrates the find is at substantial levels, capable of supporting the long-term extraction of tight oil and deep gas.”
The Ministry of Oil will host a press conference on Wednesday in Bahrain to provide additional details on the discovery, including initial findings of size and extraction viability, Bahrain News Agency said.
Offshore Energy Today Staff