MANAMA, April 4 (Xinhua) -- Bahrain announced on Wednesday the kingdom's largest ever discovery of oil and gas, with tight oil amounting to at least 80 billion barrels, Bahrain News Agency reported.
The discovery was made in the Khalij Al-Bahrain Basin, located off the west coast of the country, Bahrain's National Oil and Gas Authority (NOGA), alongside international consultants DeGolyer and MacNaughton, Halliburton, and Schlumberger revealed in a press conference on Wednesday.
This is the largest discovery of oil in the kingdom since 1932, when extraction started on Bahrain's first oil well within the Bahrain Oil Field.
Extensive work has already been carried out to evaluate in-place volumes. The first well in the drilling program is planned to produce in August, and over the next two years focus will be given to maximize production and commercial efficiency.
The newly-discovered resource is expected to provide long-term benefits to the kingdom's economy.
