Bahrain announced on April 1st the discovery of a new tight oil and deep gas field off the west coast of the kingdom; the discovery is thought to dwarf the country’s current reserves, Emirates News Agency reported.
“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,” Bahrain’s Minister of Oil, Sheikh Mohamed 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,” he added.
The Bahraini government confirmed that modeling and analytical studies are ongoing, undertaken by Bahraini National Oil and Gas Authority, NOGA, alongside private sector partners.
The quantity and market value of the find have not yet been fully assessed.