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Oil reserves in Kuwait

 

 
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Oil reserves in Kuwait
 
 
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Kuwait
Kuwait

The State of Kuwait is a sovereign Arab emirate on the coast of the Persian Gulf, enclosed by Saudi Arabia to the south and Iraq to the north and west....
 is OPEC's third largest oil producer and claims to hold approximately , 8% of the world's world oil reserves. This includes half of the in the Neutral Zone
Neutral zone

Neutral zone may refer to:In sports:* Neutral zone , the length of the football from one tip to the other in American football* Neutral zone , zone between the blue lines in ice hockey...
 which Kuwait shares with Saudi Arabia. Most of Kuwait's oil reserves are located in the 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....
, 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.

The size of Kuwait's reserves came into question in 2006 when a leaked memo from the Kuwait Oil Company (KOC) reported by Petroleum Intelligence Weekly that national reserves of were some 48 billion barrels.






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Kuwait
Kuwait

The State of Kuwait is a sovereign Arab emirate on the coast of the Persian Gulf, enclosed by Saudi Arabia to the south and Iraq to the north and west....
 is OPEC's third largest oil producer and claims to hold approximately , 8% of the world's world oil reserves. This includes half of the in the Neutral Zone
Neutral zone

Neutral zone may refer to:In sports:* Neutral zone , the length of the football from one tip to the other in American football* Neutral zone , zone between the blue lines in ice hockey...
 which Kuwait shares with Saudi Arabia. Most of Kuwait's oil reserves are located in the 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....
, 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.

The size of Kuwait's reserves came into question in 2006 when a leaked memo from the Kuwait Oil Company (KOC) reported by Petroleum Intelligence Weekly that national reserves of were some 48 billion barrels. The data was produced at the end of 2001 by state-owned Kuwait Oil Co. (KOC) and based on the findings of its reserves management committee. The total includes the whole of Kuwait plus its share of the Neutral Zone shared with Saudi Arabia, which is referred to in Kuwait as the Divided Zone (DZ). These barrels are split roughly 50-50 between "proven" reserves -- those with a 90% certainty of being produced -- and "nonproven," which is assumed to be a combination of probable and potential. The total figure is more than 75% lower than Kuwait's official proven reserves of 101.5 billion bbl.

Kuwait produces about which translates to a reserves-to-production ratio
Reserves-to-production ratio

The Reserves-to-production ratio is the remaining amount of a Resource_depletion natural resource, expressed in years. The RPR is most commonly applied to fossil fuels....
 of about 100 years