A new discovery off the coast of Bahrain is estimated to contain at least 80 billion barrels of tight oil, the kingdom`s biggest ever find, its oil minister.

Independent appraisals by U.S.-based oil consultants DeGolyer and MacNaughton and oilfield services company Halliburton had confirmed Bahrain`s find of "highly significant quantities of oil in place ... with tight oil amounting to at least 80 billion barrels, and deep gas reserves in the region of 10-20 trillion cubic feet.

Agreement has been reached with Halliburton to commence drilling on two further appraisal wells in 2018, to further evaluate reservoir potential, optimise completions, and initiate long-term production," Sheikh Mohammed told a news conference in Manama.