The World’s Largest Oil Field is Dying

Saudi Aramco, the national oil company of Saudi Arabia and Ghawar’s operator, is currently injecting a staggering 7 million barrels of sea water per day back into Ghawar in order to prop up pressure.And at the Offshore Technology Conference a few months ago, experts were claiming that Ghawar was producing about 55% water. That means that more than half the fluid brought up the well is water!

For now Ghawar is still far too productive to abandon. But because of increasing problems with managing the water Ghawar is becoming very costly to maintain. And one day in the very near future it will become uneconomical to extract Ghawar’s oil and the field will be discarded.

In April 2006, a Saudi Aramco spokesman admitted that its mature fields are now declining at a rate of 8% per year, implying that Ghawar may have peaked.

energyandcapital The World’s Largest Oil Field is Dying