08 Apr '18, 9pm

Why Bahrain’s Huge Oil Discovery Might Not Provide The Windfall It Is Hoping For https://t.co/gmbhH5c6kM

On April 1, Bahrain’s Higher Committee for Natural Resources and Economic Security announced it had made a significant discovery of oil and gas in the offshore Khaleej Al Bahrain Basin, the largest find in the country since the early 1930s. Oil minister Sheikh Mohamed bin Khalifa Al Khalifa described the find as “at substantial levels, capable of supporting the long-term extraction of tight oil and deep gas.” Further details have emerged since then from the National Oil and Gas Authority (Noga), which has been working with consultancy firms DeGolyer and MacNaughton (Demac), Halliburton, and Schlumberger to assess the finds. However, as these details have been released, some analysts have urged caution about how difficult and costly it might be to exploit the new finds. A general view of the Bahraini capital, Manama, on February 10, 2016. (Photo: MOHAMMED AL-SHAIKH/AFP/Gett...

Full article: http://peakoil.com/production/why-bahrains-huge-oil-disco...

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