Drilling for the first production wells in Bahrain’s new offshore shale oil discovery is expected to start at the end of 2022, the country’s oil minister said in remarks made to parliament last month and seen by Reuters onThursday.
The Gulf Arab state in 2018 announced the discovery of the Khaleej al-Bahrain field, its largest oil and gas find since 1932, situated off Bahrain’s west coast and estimated to contain at least 80 billion barrels of tight (shale) oil and the country has been looking for foreign investment to help to develop it.
For all the latest headlines follow our Google News channel online or via the app.
Oil Minister Mohammed bin Khalifa Al Khalifa, responding to questions from a lawmaker in a document dated March 2021, said test wells were currently being drilled in neighboring land areas and that drilling work for the first offshore production wells would start by the end of 2022.
In 2019, the minister had said that Bahrain was talking to US oil companies with shale oil expertise about developing the field.
In the minister’s response to the questions by the lawmaker he said no development or production sharing agreement had yet been reached with any company specialized in developing non-conventional fields “because the global economic recession and fall in oil prices led to a decrease in new investments by major international oil companies.”
“(State-owned) Tatweer Petroleum is currently implementing the plan to drill evaluation wells which will strengthen the strategy of attracting international oil firms to invest in Bahrain.”
Tight oil is a form of light crude oil held in shale deep below the earth’s surface that is extracted with hydraulic fracturing, or fracking, using deep horizontal wells.
Two Bahraini newspapers on Thursday also published the minister’s response to the member of the National Assembly.
Bahrain’s NOGA eyes upsizing sukuk deal to $600 mln, tightens guidanceBahrain’s National Oil and Gas Holding Company (NOGA Holding) is expected to sell between $500 million and $600 million in eight-year sukuk, or ... Energy
Oil minister names Dawood Nassif chairman of Bahrain Petroleum Co: BNABahraini Oil Minister Sheikh Mohammed bin Khalifa bin Ahmed has appointed Dawood Nassif as the chairman of the board of directors of Bahrain Petroleum ... Energy
Bahrain to allow foreign companies to take 100% stakes in oil, gas projectsBahrain is to allow foreign companies to own 100 percent of oil and natural gas extraction projects in the Gulf state, under an order issued by Prime ... Energy
Bahrain’s Bapco sees oil trading opportunities as it expands refineryBahrain plans to commission its expanded oil refinery by early 2023, allowing it to sell and trade more petroleum products in the Gulf region and Asia ... Energy
Bahraini King, Saudi Crown Prince inaugurate new Aramco-BAPCO oil pipelineBahrain’s King Hamad bin Isa Al Khalifa and Saudi Arabia’s Crown Prince Mohammed bin Salman inaugurated the new oil pipeline with ... Energy
Bahrain says new discovery contains an estimated 80 bln barrels of tight oilA new discovery off the coast of Bahrain is estimated to contain at least 80 billion barrels of tight oil, the kingdom’s biggest ever find, ... Energy
New details about the largest oilfield found in BahrainBahrain is opening a new page in its economy with the unveiling of the largest oilfield in its history and the first since 1932. This a stage that ... Economy
Bahrain announces discovery of largest oilfield since 1932Bahrain on Sunday announced the discovery of a new tight oil and deep gas resource in the Khaleej Al Bahrain Basin, located off the west coast of the ... Energy