Tiny Bahrain's Big Oil Discovery Will Boost the Country’s Fortunes -- Eventually

Bahrain's leadership is optimistic that the country's economic fortunes will improve after the government announced its largest ever oil discovery. On April 4, Oil Minister Mohammed bin Khalifa al-Khalifa revealed that Bahrain's recently discovered oil and gas field, Khaleej Al Bahrain, holds an estimated 81.5 billion barrels of oil and 390 billion cubic meters of associated gas in place. Two Western firms have confirmed those numbers in independent appraisals, and Bahrain's government is working with Halliburton Co. to drill two more appraisal wells this year....