Field, State Cumulative Production + Est. Reserves
1. Prudhoe Bay, Alaska 13+ billion barrels
2. East Texas 5.1-6.0 billion barrels
3. Wilmington, California 2.8 billion barrels [or up to 3.0]
4. Midway-Sunset, California 2.8 billion barrels [or up to 3.5]
5. Kuparuk River, Alaska 2.6 billion barrels
6. Thunder Horse, Gulf of Mexico 1.5-2.0 billion barrels
7. Kern River, California 1.95 billion barrels [or up to 2.5]
8. Yates, West Texas 1.95 billion barrels
9. Belridge South, California 1.9 billion barrels
10. Wasson, West Texas 1.8 billion barrels
11. Elk Hills, California 1.5 billion barrels [or 1.3]
12. Panhandle, Texas 1.4 billion barrels
24 largest oil fields in the World Field
Country, Size estimate
1. Ghawar, Saudi Arabia
Saudi fields overall are in decline at 2% to 8% a year. Source 75-83 billion barrels
2. Burgan, Kuwait • in decline 66-72 billion barrels
2a. Cantarell, Mexico • in decline 35 billion barrels OOIP
18 billion recoverable (often listed as a large complex
of multiple smaller fields)
I work for a company that makes industrial equipment for big oil. BP and most other oil companies in the world are our customers. Currently we are producing equipment almost at maximum capacity, our suppliers and even our competition are also reaching capacity. The oil industry is ramping up big time and in a few years supply should catch up with demand. When this happens oil prices will come down in price but we are still a few years away.
