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US leads the top ten countries by crude reserves, says GlobalData

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Oilfield Technology,

The United States holds the top spot among the ten countries with largest remaining crude and condensate reserves, with 91.1 billion bbls expected to be economically recovered in the country. Saudi Arabia, Iraq, and Russia follow closely with 77.4 billion bbls, 71.8 billion bbls and 70.6 billion barrels, respectively.

Shallow water developments will account for 14.1% or 70.3 billion bbls of remaining reserves. The United Arab Emirates has the lowest remaining break-even oil price at US$4/bbl for shallow water developments, while the United States has the highest break-even oil price at US$32/bbl.

Over 77.1% of the countries’ remaining reserves, or 383 billion bbls, will be produced from onshore fields. The United Arab Emirates is the country with the lowest remaining break-even oil price at US$3/bbl for onshore developments, while Canada’s onshore projects have the highest break-even oil price at US$31/bbl.

GlobalData expects that ultra-deepwater developments will be responsible for 30.3 billion bbls of remaining reserves, spread between two countries. Ultra-deepwater projects in the United States and Brazil have a remaining break-even oil price of US$33 and US$37/bbl, respectively.

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