International Finance
Oil & Gas

Bahrain announces its newfound oil & gas reserve the largest in its region

Kingdom of Bahrain, oil and gas, oilfields, natural gas, Gulf Cooperation Council, GCC, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, Abu Safa oilfield
The Kingdom of Bahrain procures 80% of its revenue from oil, and gets 150,000 bpd from the Abu Safa oilfield in part

Bahrain recently found the first-ever biggest discovery of oil and gas reserve in its region, unlike its Gulf-counterparts.

The Bahrain News Agency has not disclosed any details on the size of the reserve or the date to commence production. The capital Manama is said to be the smallest producer of hydrocarbons in the Gulf Cooperation Council. This includes Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.

At present, it has only one oilfield with several hundred million barrels of crude reserve, according to the Jakarta Post. For now, it pumps 50,000 barrels per day and 28mn cubic metres of natural gas everyday.

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