ESL Lesson 1
Oil in Our Every Day Life
ESL Lesson 2
The History of Mining
ESL Lesson 3
Economic growth
ESL Lesson 4
Delivery Systems
ESL Lesson 5
Cities and Population Movement
ESL Lesson 6
Recycling
ESL Lesson 7
Rubber
ESL Lesson 8
Farming
Kuwait and Oil Reserves
Source ASPO, May 05, 2006 (Association for the Study of Peak Oil) updated Jan 20, 2007
During the last two months we now have seen two articles with alarming (bad) news about the production of crude oil from Kuwait. The first came in November by James Cordahi and Andy Critchlow at Bloomberg and was entitled:
Kuwait Oil Field, World's Second Largest, 'Exhausted'.
The plateau (leveling out) in output from the Burgan field will be about 1.7 million barrels a day, rather than as much as the 2 million a day that engineers had forecast could be maintained ( continued) for the rest of the field's 30 to 40 years of life, said Farouk al-Zanki, the chairman of state-owned Kuwait Oil Co. Kuwait will spend about $3 billion a year for the next three years to expand output and exports, three times(3X) the recent average. To boost oil supplies," 'Burgan by itself won't be enough because we've exhausted that, with its production capability (amount of oil an oil field can produce) now much lower than what it used to be," al-Zanki said during an interview. "We tried 2 million barrels a day, we tried 1.9 million, but 1.7 million is the optimum (best) rate for the facilities and for economics.”
Kuwait Oil Reserves Only Half Official Estimate-PIW
Source: http://www.peakoil.net/Kuwait.html
by Kjell Aleklett
LONDON, Jan 20 (Reuters) - OPEC producer Kuwait's oil reserves are only half those officially (actually) stated, according to internal Kuwaiti records seen by industry newsletter Petroleum Intelligence Weekly (PIW). "PIW learns from sources that Kuwait's actual oil reserves, which are officially stated at around 99 billion barrels, or close to 10% of the global total, are a good deal (much) lower, according to internal Kuwaiti records," the weekly PIW reported on Friday.
It said that according to data circulated (passed around) in Kuwait Oil Co (KOC), a subsidiary (smaller company that the original parent company) of state Kuwait Petroleum Corp, Kuwait's remaining proven and non-proven oil reserves are about 48 billion barrels not 99 billion. PIW said the official public Kuwaiti figures do not distinguish (identify) between proven, probable and possible reserves.
Continue to: China
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Economic growth
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Mexico
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Kuwait
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China
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U.K. and Norway
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Russia