BAHRAIN: LARGEST OIL FIND SINCE 1932
Bahrain announced the discovery of a shale oil and a deep gas resource in Khaleej Al Bahrain Basin, located off the west coast of the kingdom. The find represents the largest discovery of oil in the Kingdom since 1932, when extraction started on Bahrain’s first oil well within the Bahrain Oil Field.
The new resource is forecast to contain highly significant quantities of tight oil, also known as shale, and deeply located gas, understood to dwarf Bahrain’s current reserves.
The announcement was made by Bahrain’s Higher Committee for Natural Resources and Economic Security, chaired by Crown Prince Salman Bin Hamad Al Khalifa.
“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],” Minister of Oil Shaikh Mohammad Bin Khalifa Al Khalifa said.
“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.” (Source and image: Gulf insider)
- AASTA HANSTEEN GAS FIELD ON STREAM 18th December 2018
- ARGENTINA: PETRONAS AND YPF TO INVEST $2.3 BILLION IN LA AMARGA CHICA 12th December 2018
- ENI STRIKES OIL IN THE AFOXE PROSPECT OFFSHORE ANGOLA 10th December 2018
- TALOS ENERGY COMMENCES ZAMA-2 APPRAISAL CAMPAIGN 04th December 2018
- EXXONMOBIL MAKES 10TH DISCOVERY IN STABROEK BLOCK OFFSHORE GUYANA 04th December 2018
- IXACHI BECOMES MEXICO’S LARGEST DISCOVERY IN 25 YEARS 03rd December 2018
- THE GIGANTIC AIRPORTS OF THE FUTURE – ISTANBUL, DAXING, CHANGI, LONG THANH 24th November 2018
- BP STARTS UP CLAIR RIDGE OIL PRODUCTION IN WEST OF SHETLAND 24th November 2018