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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.
smartnews keeping you current shell is drilling the world s deepest offshore oil well in the gulf of mexico the new well contains around 250 million barrels of recoverable oil total or just over three percent of the oil used by the u s each year the petronius rig in the gulf of mexico operated by chevron and marathon oil shell plans to drill more than two miles underwater in the gulf of mexico in pursuit of new sources of oil and gas