<ASPO-USA Denver Conference Report (Friday) The Oil Drum Burgan and the other fields in Kuwait>

15 comments on What the hell are oil reserves anyhow?

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reno on November 13, 2005 - 11:50am Permalink | Subthread | Comments top
http://www.ameinfo.com/71519.html

Anybody catch this story??

Kuwait's biggest field starts to run out of oil

It was an incredible revelation last week that the second largest oil field in the world is exhausted and past its peak output. Yet that is what the Kuwait Oil Company revealed about its Burgan field.

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Bubba on November 13, 2005 - 9:42pm Permalink | Subthread | Parent | Comments top
Yeah I saw that and was shocked also. Let's see - Burgan, Cantarell, Prudhoe Bay, all of the major North Sea fields - they all are past peak.  Ghawar we don't know about but anecdotal evidence suggests it is near its peak.  What fields that have 5 billion barrels or more "reserves" have not reached their peak?  
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hindela on November 13, 2005 - 10:06pm Permalink | Subthread | Parent | Comments top
I can't tell if this is really news or not.  The EIA has the Burgan field rated at 1.6 mbpd.

http://www.eia.doe.gov/emeu/cabs/kuwait.html#oil

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peakearl on November 13, 2005 - 10:14pm Permalink | Subthread | Parent | Comments top
This is news because it was projected to increase to 2 million b/d. Instead it will decline (possibly rapidly) which will make a big difference in supply/peak projections over the next few years.
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15 comments on What the hell are oil reserves anyhow?

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