MANAMA, April 1 (KUNA) -- Bahrain's Bahrain's Higher Committee for Natural Resources and Economic Security 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 Kingdom.
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, according to a statement relayed by the Bahrain News Agency (BNA).
The new resource is forecast to contain highly significant quantities of tight oil and deep gas, understood to dwarf Bahrain's current reserves.
The discovery, expected to support extensive, long-term downstream activities, follows a recent uplift in oil and gas exploration projects undertaken in response to a directive from King Hamad to the Higher Committee for Natural Resources and Economic Security to increase exploration activities. (end)