Oil reserves in Kuwait in the context of "Burgan field"

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⭐ Core Definition: Oil reserves in Kuwait

Oil reserves in Kuwait make up 8% of the oil reserves in the world. Kuwait is OPEC's third largest oil producer and claims to hold approximately 104 billion barrels (16.5×10^ m). This includes half of the 5 billion barrels (790×10^ m) in the Saudi-Kuwaiti neutral zone, which Kuwait shares with Saudi Arabia. Most of Kuwait's oil reserves are located in the 70 billion barrels (11×10^ m) Burgan field, the second largest conventional oil field in the world, which has been producing oil since 1938. Since most of Kuwait's major oil fields are over 60 years old, maintaining production rates is becoming a problem.

During Operation Desert Storm when the Iraqi Armed Forces were retreating from Kuwait, Saddam Hussein ordered a team of engineers to enact a scorched earth policy and set fire to hundreds of oil fields which caused over one billion barrels of oil to go up in flames over the next seven months. At their height, the fires consumed more than four million barrels of oil per day.

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Oil reserves in Kuwait in the context of Kuwait

Kuwait, officially the State of Kuwait, is a country in West Asia. It is situated in the northern edge of the Arabian Peninsula at the head of the Persian Gulf, bordering Iraq to the north and Saudi Arabia to the south. With a coastline of approximately 500 km (311 mi), Kuwait also shares a maritime border with Iran, across the Persian Gulf. Kuwait is a city-state, most of the country's population reside in the urban agglomeration of Kuwait City, the capital and largest city. As of 2024, Kuwait has a population of 4.82 million, of which 1.53 million are Kuwaiti citizens while the remaining 3.29 million are foreign nationals from over 100 countries. In 2019, Kuwait had the world's third largest number of foreign nationals as a percentage of the population, where its citizens make up less than 30% of the overall population.

The territory of modern-day Kuwait has been occupied by humans since antiquity, particularly due to its strategic location at the head of the Persian Gulf near the mouth of the Tigris and Euphrates rivers. In the early 18th century, the territory of modern-day Kuwait was under the jurisdiction of the Bani Khalid clan; then the territory became known as the Sheikdom of Kuwait and a British protectorate in 1899. Prior to the discovery of oil reserves in 1938, the territory of modern-day Kuwait contained a regional trade port. The protectorate agreements with the United Kingdom ended in June 1961 when Kuwait officially became an independent state.

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Oil reserves in Kuwait in the context of State of Kuwait

Kuwait, officially the State of Kuwait, is a country in West Asia. It is situated in the northern edge of the Arabian Peninsula at the head of the Persian Gulf, bordering Iraq to the north and Saudi Arabia to the south. With a coastline of approximately 500 km (311 mi), Kuwait also shares a maritime border with Iran, across the Persian Gulf. Kuwait is a city-state; most of the country's population reside in the urban agglomeration of Kuwait City, the capital and largest city. As of 2024, Kuwait has a population of 4.82 million, of which 1.53 million are Kuwaiti citizens while the remaining 3.29 million are foreign nationals from over 100 countries. In 2019, Kuwait had the world's third largest number of foreign nationals as a percentage of the population, where its citizens make up less than 30% of the overall population.

The territory of modern-day Kuwait has been occupied by humans since antiquity, particularly due to its strategic location at the head of the Persian Gulf near the mouth of the Tigris and Euphrates rivers. In the early 18th century, the territory of modern-day Kuwait was under the jurisdiction of the Bani Khalid clan; then the territory became known as the Sheikdom of Kuwait and a British protectorate in 1899. Prior to the discovery of oil reserves in 1938, the territory of modern-day Kuwait contained a regional trade port. The protectorate agreements with the United Kingdom ended in June 1961 when Kuwait officially became an independent state.

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