Bahrain finds oil as much as Russia's entire reserve

Bahrain’s oil minister said on Wednesday that the estimated oil reserves in a newly discovered field, the kingdom’s largest ever, is at least 80 billion barrels of tight oil.

Russia’s entire oil reserve is 80 billion barrels, according to Financial Post.

Bahrain said on Sunday it had discovered the tight oil and deep gas resources located off the west coast of the kingdom.

“DeGolyer and MacNaughton’s and Haliburton’s independent appraisals have confirmed NOGA’s (Bahrain’s National Oil and Gas Authority) find of highly significant quantities of oil in-place for the Khalij Al Bahrain, with tight oil amounting to at least 80 billion barrels, and deep gas reserves in the region of 10-20 trillion cubic feet,” Oil Minister Sheikh Mohammed bin Khalifa Al-Khalifa said.

“Agreement has been reached with Halliburton to commence drilling on two further appraisal wells in 2018, to further evaluate reservoir potential, optimise completions, and initiate long-term production.”