Thepetroleum industry in Kuwait is the largest industry in the country, accounting nearly half of the country's GDP.Kuwait has proven crudeoil reserves of 104 billion barrels (15 km3),[1] estimated to be 9% of the world's reserves.Kuwait's oil reserves are the sixth largest in the world and theBurgan Field is thesecond largestoil field. Kuwait is the world's eleventh largest oil producer and seventh largest exporter.[2] Kuwait's oil production accounts for 7% of world-wide oil production.[3]
Smoke from burning Kuwait oil fields set on fire by retreating Iraq forces during the Gulf War
Since thegovernment of Kuwait owns the petroleum industry, it controls a lot ofthe country's economy; in all, about 43 percent of the GDP. Kuwait’s oil exports vary depending on internal needs – almost all of Kuwait’s energy is derived from oil – and on international demand and prices andproduction quotas fixed by theOPEC, of which Kuwait is a member. OPEC’s quotas, however, are difficult to enforce, and Kuwait and other countries have been accused of violating them. In 2005, oil production was an estimated 2.418 million bbl/day.[4]
Oil Sector Services Company (OSSC) : Handles all construction projects, maintenance, security, fire-fighting, and medical services to all oil sector employees and their families.
On 26 May, 2025 Saudi Arabia and Kuwait have announced a major oil discovery in the Partitioned Zone, near the North Wafra Wara-Burgan field, about five kilometers from the Wafra field. The well produced over 500 barrels per day of crude with an API gravity of 26–27 degrees. It’s the first find since joint operations resumed in 2020, highlighting the countries' continued energy cooperation and commitment to global supply security.[5][6]
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