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FinancialNews
05-04-18
Bahrain amounts new oil discovery at 80bn barrels
(MENAFN) Bahrain News Agency has reported the kingdom to have estimated its largest discovery of oil and gas at no less than 80 billion barrels.
The country has made its breakthrough in locating the largest discovery since 1932 on Wednesday in the Khalij Al-Bahrain Basin.
The kingdom has launched an assessment process for in-place volumes, with its drilling program to produce the first well in August, as it grants maximum effort for production and commercial efficiency in the following two years.
The oil discovery was said to be predicted to become a resource with long-term profits to the economy in Bahrain.
MENAFN0504201800450000ID1096696635
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