Russian ROSGEO to Start Geological Survey of New Bahraini Oil Field in 2018 - Oil Minister
Bahrain signed an agreement with Russia's ROSGEO company to start a large-scale survey of a newly discovered offshore oil field in the Persian Gulf in the last quarter of 2018, Bahraini Oil Minister Mohammed bin Khalifa Al Khalifa told Sputnik.
ABU DHABI (Pakistan Point News / Sputnik - 12th November, 2018) Bahrain signed an agreement with Russia's ROSGEO company to start a large-scale survey of a newly discovered offshore oil field in the Persian Gulf in the last quarter of 2018, Bahraini Oil Minister Mohammed bin Khalifa Al Khalifa told Sputnik.
"Oil and gas fields are ready for the start of production. We have reached an agreement with Russia's ROSGEO company on a large-scale marine survey.
The company will start working in the last quarter of this year," Al Khalifa said on the sidelines of Abu Dhabi International Exhibition & Conference (ADIPEC).
In April, the Bahraini Higher Committee for Natural Resources and Economic Security announced the largest discovery of oil and gas in the country since 1932, when oil production first started in Bahrain. The volume of oil reserves in the new field is about 80 billion barrels, while the volume of natural gas is estimated at 10-20 trillion cubic feet.