Bahrain: Offshore find contains 80 billion barrels of oil. Production to start within 5 years

Following the news on Bahrain making its largest oil discovery ever, the country has also put a number to it –“at least 80 billion barrels.”

The offshore oil discovery announced on Sunday, April 1, is located in the Khalij Al-Bahrain Basin, is located in shallow waters off the Kingdom’s west coast.

The Bahraini News Agency has cited Halliburton who said that the fact the discovery sits close to a fully-operational oil field with ready-to-connect-to facilities, provides the potential for significant cost optimization.

“Oil in place of 80 billion barrels is based on a P50 resource estimate,” said John Hornbrook, DeGolyer and MacNaughton Senior Vice president.

Bahrain’s Minister of Oil, Shaikh Mohammed bin Khalifa Al Khalifa, said: “DeGolyer and MacNaughton’s and Haliburton’s independent appraisals have confirmed NOGA’s find of highly significant quantities of oil-in-place for the Khalij Al Bahrain, with tight oil amounting to at least 80 billion barrels, and deep gas reserves in the region of 10-20 trillion cubic feet.”

Halliburton will start drilling on two further appraisal wells in 2018, to further evaluate reservoir potential, optimize completions, and initiate long-term production, the Kindom’s news agency reported.

The giant discovery is expected to be brought to production within five years, the news agency said.

Share this article

Follow Offshore Energy Today

Posted on April 6, 2018 with tags .

Events>

<< Apr 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Navingo Career Event

The Navingo Career Event is Europe’s biggest career event for the maritime…

read more >

Offshore Technology Conference (OTC) 2020 Postponed

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply