Bahrain’s Biggest Oil Find Since 1932 Dwarfs Reserves - Bloomberg
▻https://www.bloomberg.com/news/articles/2018-04-01/bahrain-says-its-biggest-oil-find-since-1932-dwarfs-reserves
• Kingdom currently has two fields, one shared with Saudi Arabia
• New undersea deposit lies off Gulf nation’s western coast
Bahrain, the smallest energy producer in the Persian Gulf, discovered its biggest oil field since it started producing crude in 1932, according to the country’s official news agency.
The shale oil and natural gas discovered in a deposit off the island state’s west coast “ is understood to dwarf Bahrain’s current reserves, ”Bahrain News Agency reported, without giving figures. U.S. consultants DeGolyer & MacNaughton Corp. evaluated the field, and Bahrain plans to provide additional details on Wednesday about the reservoir’s “size and extraction viability,” BNA reported.
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Bahrain discovered the offshore Khaleej Al Bahrain Basin as it seeks to expand output capacity at its wholly owned Bahrain Field to 100,000 barrels a day by the end of the decade. The country is pumping about 45,000 barrels of oil a day from its Bahrain Field, and it shares income from a deposit with Saudi Arabia that produces about 300,000 barrels a day, according to figures from the U.S. Energy Information Administration.