Reserves
In April 2010, Saad al-Treiki, Vice-President for Operations at Aramco, stated in a news conference reported in Saudi media that over 65 billion barrels (10.3 km3) have been produced from the field since 1951. Treiki further stated that the total reserves of the field had originally exceeded 100 billion barrels (16 km3)
Matthew Simmons, in his book Twilight in the Desert, suggests that production from the Ghawar field and Saudi Arabia may soon peak.
When appraised in the 1970s, the field was assessed to have 170 billion barrels (27 km3) of original oil in place, with about 60 billion barrels (9.5 km3) recoverable (1975 Aramco estimate quoted by Matt Simmons). The second figure, at least, was understated, since that production figure has already been exceeded.
Read more about this topic: Ghawar Field
Famous quotes containing the word reserves:
“...I want to see a film, they send the Israeli army reserves to escort me! What kind of life is this?”
—Golda Meir (1898–1978)
“While you are nurturing your newborn, you need someone to nurture you, whether it is with healthful drinks while you’re nursing, or with words of recognition and encouragement as you talk about your feelings. In this state of continual giving to your infant—whether it is nourishment or care or love—you are easily drained, and you need to be replenished from sources outside yourself so that you will have reserves to draw from.”
—Sally Placksin (20th century)