Bahrain Discovers It Largest Oil Field That Will ‘Dwarf Current Reserves’

The biggest oil discovery that has been made in Bahrain since 1932 was announced by the country recently. Bahrain is a small country that lies between the two energy giants Saudi Arabia and Qatar.

Forecast to be full of “highly significant quantities of oil and gas”, the new oil field is situated off the country’s western coast according to the announcement of the discovery made by the official news agency of Bahrain on Sunday.

While saying that the field is “understood to dwarf Bahrain’s current reserves,” no detailed figures about the estimated quantity of oil and natural gas that could be present in the newly discovered filed was provided in the announcement.

“Initial analysis demonstrates the find is at substantial levels, capable of supporting the long-term extraction of tight oil and deep gas,” oil minister Shaikh Mohamed bin Khalifa Al Khalifa told the news agency.

Within the oil producing countries in the Gulf, Bahrain is the smallest. According to the most recent government statistics, in 2014, the country had pumped out approximately 50,000 barrels of crude a day.

Proven oil fields of just 125 million barrels lies with the country. in contrast, according to the US Energy Information Administration, there is about 266 billion barrels in reserves with Bahrain’s neighbor – Saudi Arabia.

There is just one oil field that is under the complete control of the Bahrain government at present. Under the terms of a 1958 deal Saudi Arabia and Bahrain share the revenues from the Abu Sa’fah oil field – another offshore field of the country.

Despite not being a member of the OPEC, Bahrain has been a part of the effort by global crude producers to try and a curtail production to wear off the global supply glut in the world oil industry and help in reviving the global prices of oil.

And still continuing with oil production, Oil & Gas Technology Centre, Total E&P (Total) and taurob, in partnership with Technische Universitaet Darmstadt (TU Darmstadt). Could soon put a robot in the oil production process alongside humans at a North Sea platform. that would be the first such project in the world.

Operational inspection of facilities would be done automatically by the robot to be deployed on Total’s onshore Shetland Gas Plant and off shore Alwyn platform in the 18-month project which will see the development and testing of the mobile robot.

This would be the first time that trials for an autonomous robot would be conducted on an operational oil field. There could be a revolution in terms of safety, enhanced productivity and reduces costs if the project conceived with the mobile autonomous robot is successful.

After winning the ARGOS (Autonomous Robots for Gas and Oil Sites) challenge in 2017 conducted by Total, Australian manufacturer taurob and TU Darmstadt in Germany are also collaborating on the project along with the ‘Technology Centre and Total.

(Adapted from Money.CNN.com & WordlOil.com)

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Categories: Economy & Finance, Strategy, Sustainability, Uncategorized

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