Burgan to add 12bn bbls to Kuwait reserves
Kuwait, October 21, 2010
Kuwait's largest oil field, Greater Burgan, will add 12 billion barrels to the Opec country's oil reserves, Al-Jarida daily reported on Thursday.
The daily cited informed oil sources it did not identify by name as saying studies under way for other oilfields were expected to add similar figures to the reserves. It did not elaborate further.
A Kuwait Oil Co (KOC) official declined to comment on the report.
Sami Al-Rushaid, chairman of KOC, the state explorer, told Reuters Middle East Investment Summit on Tuesday Kuwait expects 'more than big quantities' to enter the oil reserves by March, and some of it will come from Greater Burgan.
Greater Burgan, the world's second largest oilfield, encompasses the Burgan, Magwa and Ahmadi fields. It holds around 70 billion barrels or around 70 percent of Kuwait's 101.5 billion barrels of reserves, according to US data.
Kuwait, the world's fourth largest oil exporter, plans to boost oil output capacity to 4 million bpd by 2020. - Reuters
More Energy, Oil & Gas Stories
- ME oil, gas transaction value up 15pc
- Victrex to showcase new product in Paris
- Aramco JV puts off giant refinery overhaul to 2015
- Libya threatens to bomb N Korean tanker
- Bahrain 'producing 850MW of surplus power'
- 2,000 experts for Bahrain geosciences summit
- Libyan rebels start oil exports, bypassing govt
- Dubai drilling company set for London IPO
- Opec output soars on higher Iraq exports
- S Korea to pay Iran $550m under nuke deal
- Qatar LPG exports will stay unchanged till 2018
- $14bn Bahrain energy sector focus for summit
- Iraq now world's fastest-growing oil exporter
- Old IT systems pose risk to oil firms
- Thomson Reuters adds commodity monitoring tool
- Oil below $90 to hit GCC economies
- GlassPoint appoints new Oman director
- Sheffield company opens Dubai hub
- Oman targets big rise in gas output
- Intertek buys UAE firm for $66m
- Qaiwan to tender Baizan refinery EPC contract
- Al Maha wins Oman Air fuel supply deal
- Iran to become top gas importer by 2025
- UAE hydrocarbon projects seen hitting $11bn
- Summit focus on occupational safety
- Aramco names new senior VP
- Siemens gets $253m Qatar power contract
- Taqa-led group's India deal worth $1.6bn
- Taqa-led group to buy India power plants
- Iraq oil exports hit record 2.8m bpd