Kuwait trying to clarify oil reserves

By OGJ editors
HOUSTON, July 20 -- Kuwait officials are working to clarify the volume of Kuwaiti estimated oil reserves, Energy Minister Ali al-Jarah al-Sabah said in a statement posted on the ministry's web site.

"The volume and truth of oil reserves will be announced based on clear scientific studies, characterized by reality and credibility, and supported by international documents and certificates," he said. Al-Jarah, a former banker and diplomat, was appointed to the cabinet on July 10.

"Everything will be presented clearly in front of the official and national bodies," al-Jarah said, adding that the Council of Ministers and the National Assembly are involved. He plans to discuss reserves with Kuwait Petroleum Corp. executives, adding he has "full confidence in KPC's ability and competencies."

Kuwait has estimated its oil reserves at 100 billion bbl, but it has been reported in the media that internal Kuwaiti records indicate reserves of 48 billion bbl.

Former Energy Minister Ahmad al-Fahd al-Sabah said the report painted only a partial picture, and other oil officials called the report inaccurate.

Related Articles

Western Australia taps Kimberley site for LNG hub

12/29/2008 Western Australia has chosen a site called James Price Point about 60 km north of Broome on the Kimberley coast to establish a proposed LNG hub for...

MMS chief hopes next president, Congress won't reinstate OCS bans

12/19/2008 US Minerals Management Service Director Randall B. Luthi said on Dec. 9 that he hopes the Obama administration and Congress seriously consider expa...

Pakistan plans $1 billion TAPI, IPI gas storage

12/17/2008 Pakistan says it will require $1 billion to build underground storage for gas to be imported from Iran and Turkmenistan, according to the country's...

MMS OCS Policy Committee plans first post-moratorium meeting

12/12/2008 The US Minerals Management Service's Outer Continental Shelf Policy Committee will hold its next meeting Dec. 9-10 at the Washington Dulles Crowne ...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected