Manama - Expected to contain quantities, which would dwarf Bahrain's current reserves.
Published: Sun 1 Apr 2018, 6:33 PM
Updated: Sun 1 Apr 2018, 9:13 PM
Bahrain's Higher Committee for Natural Resources and Economic Security on Sunday announced the discovery of a new tight oil and deep gas resource in the country's Khaleej Al Bahrain Basin, located off the west coast of the Kingdom.
This is the largest discovery of oil in the state since 1932, when extraction started on Bahrain's first oil well within the Bahrain Oil Field, according to a statement relayed by the Bahrain News Agency (BNA).
The new resource is expected to contain highly significant quantities of tight oil and deep gas, which would dwarf Bahrain's current reserves.
The discovery - expected to support extensive long-term downstream activities - follows a recent uplift in oil and gas exploration projects undertaken in response to a directive from King Hamad to the Higher Committee for Natural Resources and Economic Security to increase exploration activities.
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