11/19/2005

Daily Kos: World's Second Largest Oil Field Reaches Peak

World's Second Largest Oil Field Reaches Peak
by Chris Kulczycki [Subscribe]
Sat Nov 19, 2005 at 08:46:30 AM CST

According to AME info, a respected Middle Eastern economic news site:
It was an incredible revelation last week that the second largest oil field in the world is exhausted and past its peak output. Yet that is what the Kuwait Oil Company revealed about its Burgan field.

More below.

* Chris Kulczycki's diary :: ::
*

The peak output of the Burgan oil field will now be around 1.7 million barrels per day, and not the two million barrels per day forecast for the rest of the field's 30 to 40 years of life, Chairman Farouk Al Zanki told Bloomberg.

But even the perpetually optimistic IEA has a lower forcast:

Last week the International Energy Agency's report said output from the Greater Burgan area will be 1.64 million barrels a day in 2020 and 1.53 million barrels per day in 2030. Is this now a realistic scenario?

The only surprising thing about these statements is that they are not repeated in the mainstream media.

Daily Kos: World's Second Largest Oil Field Reaches Peak

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