LONDON: Bahrain has discovered the country’s biggest oilfield in decades, located off the west coast of the country.
The light shale oil and gas resource represents the largest discovery in the country since 1932, the BNA state news agency reported on Sunday. Further details on the find are expected to emerge on Wednesday at a press conference in Manama.
It could have a major impact on the country’s financial position which has come under scrutiny by ratings agencies in recent months.
Bahrain relies on the Abu Safa oilfield, which it shares with Saudi Arabia, for most of its oil.
“The new resource is forecast to contain highly significant quantities of tight oil and deep gas, understood to dwarf Bahrain’s current reserves,” said Crown Prince Salman bin Hamad Al-Khalifa, who chairs Bahrain’s Higher Committee for Natural Resources and Economic Security.
“Following the initial discovery of the resource, detailed analysis of the find’s content, size and extraction viability has been undertaken.”
Bahrain is working with petroleum industry consultants, DeGolyer and MacNaughton (Demac) to assess the finds.
“Today we announce that initial analysis demonstrates the find is at substantial levels, capable of supporting the long-term extraction of tight oil and deep gas,” the statement said.
Bahrain’s National Oil and Gas Authority (NOGA) is conducting modeling studies aimed at quantifying the size and value of the find.
A DeGolyer and MacNaughton spokesperson said: “Demac evaluated the reservoir and test data, evaluated volumetric and recovery potential, and provided reports documenting both prospective and contingent resources.
“This is a project which breaks new ground for the industry.”
The discovery, which is expected to support extensive, long-term downstream investment, follows an uptick in oil and gas exploration in the Kingdom.
Last year the government accelerated exploration of sites to the west of Bahrain, which resulted in the discovery of the resource and oil being struck in the fourth quarter of 2017, it said.
Bahrain’s Ministry of Oil is due to reveal more details on the discovery this week, including initial findings of size and extraction viability.
Bahrain has been among the most exposed of the Gulf states to a sustained decline in global oil prices since mid-2014.
Its breakeven oil price, which is the oil price it needs in order to balance its budget, is higher than other Gulf crude exporters.
In November, Fitch Ratings revised Bahrain’s outlook to ‘negative’ from ‘stable,’ citing the challenges the government faced in tackling the deficit.
Moody’s said in September that Bahrain was among the “most exposed” to the ongoing diplomatic row between Doha and some of its Gulf neighbors.
Bahrain: Largest rock oil field discovered in country's history
Bahrain: Largest rock oil field discovered in country's history
First EU–Saudi roundtable on critical raw materials reflects shared policy commitment
RIYADH: The EU–Saudi Arabia Business and Investment Dialogue on Advancing Critical Raw Materials Value Chains, held in Riyadh as part of the Future Minerals Forum, brought together senior policymakers, industry leaders, and investors to advance strategic cooperation across critical raw materials value chains.
Organized under a Team Europe approach by the EU–GCC Cooperation on Green Transition Project, in coordination with the EU Delegation to Saudi Arabia, the European Chamber of Commerce in the Kingdom and in close cooperation with FMF, the dialogue provided a high-level platform to explore European actions under the EU Critical Raw Materials Act and ResourceEU alongside the Kingdom’s aspirations for minerals, industrial, and investment priorities.
This is in line with Saudi Vision 2030 and broader regional ambitions across the GCC, MENA, and Africa.
ResourceEU is the EU’s new strategic action plan, launched in late 2025, to secure a reliable supply of critical raw materials like lithium, rare earths, and cobalt, reducing dependency on single suppliers, such as China, by boosting domestic extraction, processing, recycling, stockpiling, and strategic partnerships with resource-rich nations.
The first ever EU–Saudi roundtable on critical raw materials was opened by the bloc’s Ambassador to the Kingdom, Christophe Farnaud, together with Saudi Deputy Minister for Mining Development Turki Al-Babtain, turning policy alignment into concrete cooperation.
Farnaud underlined the central role of international cooperation in the implementation of the EU’s critical raw materials policy framework.
“As the European Union advances the implementation of its Critical Raw Materials policy, international cooperation is indispensable to building secure, diversified, and sustainable value chains. Saudi Arabia is a key partner in this effort. This dialogue reflects our shared commitment to translate policy alignment into concrete business and investment cooperation that supports the green and digital transitions,” said the ambassador.
Discussions focused on strengthening resilient, diversified, and responsible CRM supply chains that are essential to the green and digital transitions.
Participants explored concrete opportunities for EU–Saudi cooperation across the full value chain, including exploration, mining, and processing and refining, as well as recycling, downstream manufacturing, and the mobilization of private investment and sustainable finance, underpinned by high environmental, social, and governance standards.
From the Saudi side, the dialogue was framed as a key contribution to the Kingdom’s industrial transformation and long-term economic diversification agenda under Vision 2030, with a strong focus on responsible resource development and global market integration.
“Developing globally competitive mineral hubs and sustainable value chains is a central pillar of Saudi Vision 2030 and the Kingdom’s industrial transformation. Our engagement with the European Union through this dialogue to strengthen upstream and downstream integration, attract high-quality investment, and advance responsible mining and processing. Enhanced cooperation with the EU, capitalizing on the demand dynamics of the EU Critical Raw Materials Act, will be key to delivering long-term value for both sides,” said Al-Babtain.
Valere Moutarlier, deputy director-general for European industry decarbonization, and directorate-general for the internal market, industry, entrepreneurship and SMEs at European Commission, said the EU Critical Raw Materials Act and ResourceEU provided a clear framework to strengthen Europe’s resilience while deepening its cooperation with international partners.
“Cooperation with Saudi Arabia is essential to advancing secure, sustainable, and diversified critical raw materials value chains. Dialogues such as this play a key role in translating policy ambitions into concrete industrial and investment cooperation,” she added.
