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MANAMA: Tatweer Petroleum has established contacts with more than 60 international companies, including the current four major companies, for the extraction of oil from the recently-discovered offshore oilfield, Khaleej Al Bahrain, which contains up to 80 billion barrels of tight (or shale) oil.
“Scientific facts and technical data in this regard have been submitted to international companies specialised in unconventional oilfields to attract investment,” Tatweer Petroleum exploration and development director general Yahya Al Ansari said.
He expressed hope oil prices will rise and the kingdom will provide the necessary encouraging facilities to start work with these companies, and prove feasibility and benefits to all those working under the umbrella of this project.
For the sake of comparison, he said, the Bahrain field, discovered in 1932, is still producing, with estimates of 9bn barrels, but only 12pc from this oilfield has been produced.
“On the other hand, we are talking about another major discovery with 80bn barrels, an oilfield which requires a special infrastructure, transmission pipelines and facilities, technology equipment to suit each drilling and production stage. All this needs patience and meticulous planning,” he noted.
“Such efforts will contribute to the kingdom’s growth and welfare of future generations,” he added.
He announced plans to drill eight new offshore wells with a depth of 8,000 to 13,000 feet vertically and 3,000 to more than 10,000ft horizontally.
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