FX.co ★ Top 5 world's largest oil fields

The development of the oil market is dynamic, and many oil corporations are seeking to explore and discover new fields in order to ramp up the extraction of raw materials. However, despite the use of technological innovations, it is not easy to find new deposits of hydrocarbons. We suggest you have a look at the list of income-generating oil fields discovered several years ago.

Kashagan Field (Kazakhstan)

This is a large offshore oil and gas field in Kazakhstan, located in the northern part of the Caspian Sea. It was discovered in 2000 and is considered to be one of the largest fields in the world. It contains about 38 billion barrels of oil. Oil mining is carried out in difficult conditions. This deposit is part of the North Caspian project. It is developed by a number of global companies, such as North Caspian Operating Company (NCOC), AgipCaspian Sea B.V., French Total EP Kazakhstan, American ExxonMobil Kazakhstan Inc., and others.

Ferdows Field (Iran)

This is a giant offshore oil and gas field of Iran, located in the Persian Gulf and 85 kilometers from the coast. It was explored in 2003, and prior to 2007, it was among the three largest in the world. Ferdows is associated with two others deposits - Mound and Zagheh. Their total hydrocarbon reserves reach 321 billion barrels. According to experts, the development of Ferdows is progressing at a slow pace. This is due to the US sanctions imposed on the Islamic Republic.

Santos/Campos (Brazil)

Both fiels located in Brazil are considered experts as one unit. It is almost impossible to make a clear distinction between them. These fields located on the shelf possess oil reserves of 123 billion barrels. Experts emphasize that the stock level is impressive. Brazilian company Petrobras has invested over $200 billion in the development of Santos/Campos, although it is rather difficult to extract raw materials here.

Burgan (Kuwait)

The Greater Burgan, a group of oil fields, is located in the south of Kuwait, in a desert area. It includes over 5% of the world's oil reserves. This group consists of three fields: Burgan, Ahmadi, and Magwa. There is over 75% of proven oil reserves in this deposit. The total extracted volume of hydrocarbons varies from 9.14 billion to 10.7 billion tons.

Ghawar (Saudi Arabia)

This giant oil and gas field in Saudi Arabia is the world's largest one in terms of oil and gas reserves. It is located in the Persian Gulf basin. Proved and recoverable oil reserves range from 8.1 billion to 12 billion tons. This field is entirely owned and operated by Saudi Aramco, the state run oil company. Ghawar was explored in 1948, and put on stream in 1951. About 56.6 million cubic meters per day of natural gas is produced here. The bulk of the world's oil reserves, 60-65%, was extracted within the period from 1948 to 2009.