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News & Insights 2 April 2018
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The Government of Bahrain has announced a finding of new 'tight oil and deep gas resource' in the Khaleej Al Bahrain Basin.
On 1 April 2018 the Government of Bahrain announced a finding of new 'tight oil and deep gas resource' in the Khaleej Al Bahrain Basin. This follows on from the Bahrain Higher Committee for Natural Resources and Economic Security decision in the fourth quarter of 2017 to accelerate exploration to the west of Bahrain.
The find is said to represent the largest discovery of oil in the Kingdom since 1932 when the Kingdom first started to extract oil. The Bahraini Oil Minister, Shaikh Mohammed bin Khalifa Al Khalifa, states that the 'Initial analysis demonstrates the find is at substantial levels, capable of supporting the long term extraction of tight oil and deep gas' which dwarfs their current reserves. It is too early to estimate the potential increase in hydrpcarbon receipts. Further details can be found on the Bahrain News Agency website.
Category: Offshore & Renewables
