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Ghawar |
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Ghawar
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The Ghawar field has been the backbone of Saudi production for many decades. Simmons says that a few "super giant" oil fields in Saudi Arabia (including the massive Ghawar field, the world's largest, discovered in 1953) account for 92 percent of the country's crude oil output, and that these fields are aging and suffering from rising "water cut. That subject of money leads directly to the second issue: If Pemex doesn't increase revenues, it won't be able to spend enough to explore deposits that could compensate for expected declines in the Cantarell oil field, the world's second-largest such deposit after the Ghawar field in Saudi Arabia. |
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