Saudi Arabia Reports on Oil, Gas Reserves
Saudi Arabia put its proved recoverable oil and gas reserves, including the disputed fields with Kuwait, at 268.5bn barrels and 325 trillion ft3 (9.2 trillion m3) as at the end of 2017.
The government released a report January 9 on state news agency SPA, saying that its reserves are among the easiest to recover anywhere in the world.
BP statistics put Saudi's reserves for 2017 at 260bn barrels and 8 trillion m3 without saying if that includes the disputed fields. Opec’s oil reserves statistics are in line with BP's, but it estimates Saudi’s gas reserves at above 8.7 trillion m3.
The report also added that the flaring-related emissions in the country are among the lowest in the world, relative to its output.
Saudi Arabia accounts for over 10% of global oil production, but according to the World Bank, it flared 2.3bn m3 in 2017, which is 1.6% of the world's total.