Bahrain: Exploration Bahrain Discovers Largest Oil and Gas Reserve
With 80 billion barrels of oil and gas reserves of up to 10-20 trillion cubic feet, the newly identified region is expected to commence production within five years.
Bahrain – Bahrain’s National Oil and Gas Authority (NOGA), alongside international consultants De Golyer and Mac Naughton, Halliburton, and Schlumberger, recently provided new details on the Kingdom’s largest ever discovery of oil and gas, with tight oil amounting to at least 80 billion barrels.
The discovery, made within the 2,000 sq km Khalij Al-Bahrain Basin, is located in shallow waters off the Kingdom’s west coast, close to a fully-operational oil field with ready-to-connect-to facilities, according to Halliburton, who added that this unique factor provides potential for significant cost optimisation.
A separate discovery of significant gas reserves in two accumulations below Bahrain’s main gas reservoir has been confirmed. Extensive work has already been carried out to evaluate in-place volumes. The first well in the drilling programme is planned to produce in August, and over the next two years focus will be given to maximising production and commercial efficiency. Deep gas reserves in the region are expected to be 10-20 trillion cubic feet.
An agreement has been reached with Halliburton to commence drilling on two further appraisal wells in 2018, to further evaluate reservoir potential, optimise completions, and initiate long-term production.
Positive test well results have successfully demonstrated the productivity of the significant resource, with Schlumberger, who performed the first test well drilling, adding that Bapco has already succeeded in flowing high quality oil from the wells during the testing and flow back phases.
The newly-discovered resource, which officials expect to be 'on production' within five years, is expected to provide significant and long-term positive benefits to the Kingdom's economy – both directly and indirectly through downstream activities in related industries.
NOGA added that the next stage of development will focus on ensuring robust frameworks, data and terms are in place to facilitate further activities and commercial opportunities with international partners.