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Survey of Energy Resources 2007

Crude Oil and Natural Gas Liquids Country Notes

Note: Kuwait data include its share of Neutral Zone.

The State of Kuwait is one of the most oil-rich countries in the world: it currently ranks fourth in terms of the volume of proved reserves. Oil was discovered at Burgan in 1938 and commercial production commenced after World War II. Seven other oil fields were discovered during the next 15 years and output rose rapidly. Kuwait was one of the founder members of OPEC in 1960 and is also a member of OAPEC.

The level of proved recoverable reserves adopted for the present Survey is 101.5 billion barrels, as quoted by OAPEC, OPEC and BP, (and by Oil & Gas Journal for end-2006). World Oil gives a slightly lower figure: 100.875 billion barrels.

Kuwait's crude production in 2005 averaged 2.64 million b/d, of which 1.65 million b/d, or 62%, was exported. The main markets for Kuwaiti crude were Japan, other Asian countries, North America and Western Europe.