Oil reserves in Kuwait
Encyclopedia
Oil reserves in Kuwait
make up 8% of the oil reserves in the world. Kuwait is OPEC's third largest oil producer and claims to hold approximately 104 Goilbbl. This includes half of the 5 Goilbbl in the Saudi-Kuwaiti neutral zone
which Kuwait shares with Saudi Arabia. Most of Kuwait's oil reserves are located in the 70 Goilbbl Burgan field
, the second largest conventional oil field in the world, which has been producing oil since 1938. Since most of Kuwait's major oil fields are over 60 years old, maintaining production rates is becoming a problem.
Kuwait
The State of Kuwait is a sovereign Arab state situated in the north-east of the Arabian Peninsula in Western Asia. It is bordered by Saudi Arabia to the south at Khafji, and Iraq to the north at Basra. It lies on the north-western shore of the Persian Gulf. The name Kuwait is derived from the...
make up 8% of the oil reserves in the world. Kuwait is OPEC's third largest oil producer and claims to hold approximately 104 Goilbbl. This includes half of the 5 Goilbbl in the Saudi-Kuwaiti neutral zone
Saudi-Kuwaiti neutral zone
The Saudi–Kuwaiti neutral zone, also known as the Divided Zone, was an area of 5,770 km² between the borders of Saudi Arabia and Kuwait that was left undefined when the border was established by the Uqair Convention of December 2, 1922....
which Kuwait shares with Saudi Arabia. Most of Kuwait's oil reserves are located in the 70 Goilbbl Burgan field
Burgan Field
The onshore Burgan Field in the desert of southeastern Kuwait is one of the world's largest and richest oil fields.-Discovery:After its discovery in February, 1938, the USA and UK-owned Kuwait Oil Company began commercial oil production at Burgan in 1946. The oil field is so rich that it is one of...
, the second largest conventional oil field in the world, which has been producing oil since 1938. Since most of Kuwait's major oil fields are over 60 years old, maintaining production rates is becoming a problem.