Oil Reserves124.6 million barrels
Oil Production205,000 bopd
Gas Reserves200 bcm
Gas Production15.1 bcm
Bahrain’s oil and gas industry is minor compared to neighbouring industries but significant to the country’s energy industry and economy. While it is the smallest oil producer among GCC members, the industry has traditionally made up more than 70% of the nation’s GDP. The sector is run by key state players such as Bahrain Petroleum Company, National Oil and Gas Authority and its investment arm Nogaholding. The country began diversifying and liberalising its economy in the 1970s and now boasts developed non-hydrocarbons sectors such as Islamic banking, tourism and construction.
Most of Bahrain’s oil and gas production are from its onshore Bahrain field and offshore Abu Safah field. The latter field makes up most of the country’s production and is operated by Emeriti NOC Saudi Aramco, with 50% of its revenues transferred to Bahrain. The country made a significant find on its offshore Khalij al-Bahrain reservoir in 2018 that boosted expected reserves significantly by 80 billion barrels.
While the country continues to explore and develop its oil and gas assets, Bahrain aims to have net-zero carbon emissions by 2060. To reach this target, Bahrain aims to produce 710 MW from renewable sources by 2035. Bahrain’s Sustainable Energy Authority was created in 2019 to oversee efficient energy policy and promote renewables in the energy mix. The entity is targeting solar, wind and waste-to-energy facilities to achieve its goals.
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