Saturday November 12, 2005

Largest Kuwait oilfield is peaking

peakoil.com -> ameinfo.com, channelnewsasia.com (thread) :

Kuwaiti oil production from the world's second-largest field is "exhausted" and falling after almost six decades of pumping, the chairman of the state oil company said. The plateau in output from the Burgan field will be about 1.7 million barrels a day, rather than the 2 million a day that engineers had forecast could be maintained for the rest of the field's 30 to 40 years of life, said Farouk al-Zanki, chairman of state-owned Kuwait Oil Co.

To boost oil supplies, "Burgan by itself won't be enough because we've exhausted that, with its production capability now much lower than what it used to be," al-Zanki said during an interview in his office.

Brought into production in 1948, Burgan accounts for more than half of Kuwait's 96.5 billion barrels of oil reserves, or 55 billion barrels. Only Saudi Arabia's Ghawar oilfield, about 500 kilometers (313 miles) to the south, is bigger.

Kuwait last month pumped 2.5 million barrels a day, equivalent to 3 percent of global demand, according to Bloomberg data. That's down from a peak of almost 3 million barrels a day in 1972, according to the Arab Oil & Gas directory.

See also :

1. Peak Oil - The pressure mounts
2. Oil Majors Hitting Peak Production Within 48 Months
3. Second largest oil field [by production] dying (Cantarell, Mexico)

(2005-11-12 18:55:49 SGT) [Energy] Permalink

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