MANANA: Bahrain on Wednesday announced its newly discovered shale oil reserve was estimated to contain more than 80 billion barrels, making the country a potential major player in the market.
The amount of recoverable oil — or oil that can be extracted — is still under study, Oil Minister Shaikh Mohammed bin Khalifa al Khalifa told a press conference in Manama.
The field covers 2,000 square km in shallow waters off the kingdom’s west coast.
The new field would in theory dwarf the Bahrain Field, the country’s only other oil field, which contains several hundred million barrels.
The actual impact of the discovery is contingent on how much of it is actually extractable. — AFP
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