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Bahrain Overview

Bahrain

in figures

Oil Reserves124.6 million barrels

Oil Production205,000 bopd

Gas Reserves200 bcm

Gas Production15.1 bcm

Bahrain: Steady Output Offshore

Unlike its neighbours in the Gulf, the Kingdom of Bahrain is a minor oil producer, with only 124.6 million barrels of proven reserves. The country’s oil is developed largely by key state players such as Bahrain Petroleum Company (Bapco), National Oil and Gas Authority and its investment arm, Nogaholding. With such small reserves, Bahrain began diversifying and liberalising its economy in the 1970s and now boasts developed non-hydrocarbons sectors such as Islamic banking, tourism, and construction, as well as refined infrastructure.

The government still relies on oil and gas for roughly 86% of its revenues. Of these revenues, roughly 80% come from the 300,000-bopd Abu Safa offshore oilfield, which is owned and operated by Saudi Aramco but from which 50% of the revenues are transferred to Bahrain. The remaining 20% comes from Bahrain’s only oilfield, Awali, which reached record production levels in June 2015, producing some 56,000 bopd. Bahrain’s domestic consumption of oil has doubled from 25,000 bopd in 2001 to 50,600 bopd in 2015.
On December 10, 2016, Bahrain pledged to cut around 10,000 bopd from its production in 2017 in order to beef up oil prices.

Bahrain is taking a series of steps to expand its capacity to produce and refine oil and gas. Nogaholding is also investing heavily in the oil industry. In March 2016, Nogaholding announced it had signed a USD 570-million Murabaha [kind of Islamic financing structure] financing facility, which will serve to fund oil and gas projects such as Bahrain’s newbuild LNG terminal. Other projects include the expansion of Bahrain’s Sitra refinery from its current level of 267,000 bopd to 360,000 bopd. Sitra currently refines 250,000 bopd from Saudi Arabia’s Abqaiq processing facility, which is fed by the Arabia-Bahrain (AB) pipeline. Saudi Aramco is currently replacing the old AB pipeline with a new one that will expand capacity from 230,000 bopd to 350,000 bopd and appears on a schedule to open in 2017.

Bahrain find holds 80 bln barrels: report
NEWS
Bahrain - April 04, 2018

Bahrain’s largest discovery to date, initially announced on Sunday, contains more than 80 billion barrels of oil and up to 566…

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Bahrain finds massive oilfield
NEWS
Bahrain - April 02, 2018

Bahrain has made its biggest oil discovery in almost a century, local and international media reported on Sunday.

“The new…

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Bahrain books

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Bahrain signals interest in Aramco IPO
NEWS
Bahrain - June 01, 2017

Mumtalakat, the sovereign wealth fund of Bahrain, is mulling to take part in the initial public offering of Saudi Aramco shares,…

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GPIC inks deal with GE
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Bahrain - April 17, 2017

Gulf Petrochemical Industries Company (GPIC) on Sunday signed an agreement with GE Oil & Gas that will see the two entities work…

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Blocks, fields and infrastructure Map Bahrain

Bahrain maps

Blocks, Fields and Infrastructure Bahrain

    ALL MAPS
    Interview
    Bahrain - September 16, 2016

    TOGY talks to Sheikha Dheya bint Ebrahim Al Khalifa, the founder and president of Riyada Group, about cost cutting, the…

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    Bahrain appoints new oil minister
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    Bahrain - June 06, 2016

    Sheikh Mohammed bin Khalifa Al Khalifa was appointed as Bahrain’s oil minister in a cabinet shuffle by King Hamad bin Isa Al…

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    BP moves to explore Azerbaijan
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    Bahrain - May 26, 2016

    BP and State Oil Company of Azerbaijan (SOCAR) agreed to explore Block D230 in Azerbaijan’s North Absheron Basin on Wednesday.

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    Bahrain awards LNG terminal contract
    NEWS
    Bahrain - December 03, 2015

    Bahrain’s Oil and Gas Authority awarded an LNG import terminal contract Wednesday to a consortium made up of independent company Teekay LNG Partners, South Korea’s…

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