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Some oil analysts believe that Ghawar passed its peak perhaps a decade ago, but Saudi Arabiaâs infamous lack of transparency keeps everyone guessing. Nevertheless, it remains the worldâs largest oil field, both in terms of reserves and production. It continues to produce 5 million barrels per day (bpd). 2. Burgan (Kuwait) Just behind Ghawar is another massive oil field located in the Middle East.
At present many companies have the this business: from extracting oil and gas through pipelines and installation of platforms, to the production of derivatives as fuel and plastics. The worldâs major top oil companies are located in four continents: Asia, Europe, America and Africa. The most important, The Middle East is one of the places where there are large reserves of crude account. There is the half of the worldâs oil reserves: 1.2 billion barrels , approximately.