One of the very precious commodities of the world lies in the oil fields of the world. With its rising prices and lesser supply, oil is largely becoming a rare commodity. The oil is present in abundance in these oil field. But to discover such oil fields is a task in itself. The chances of existence of such oil fields is more in hard to reach areas.
Locating oil fields and drilling of oil wells is a costly affair. There are about 40,000 oil fields across the world and it is believed that there are still many oil fields waiting to be tapped. Once an oil field is discovered, the oil extraction is done by drilling multiple oil wells. The oil reserves of the oil include a definite amount of petroleum that can be recovered under current economic and operating conditions. This is in terms of the conventional oil, excluding coal.
The greatest oil field of the world is present in Ghawar filed in Saudi Arabia and Burgan field in Kuwait. They are estimated to comprise of 60 billion barrels of oil. These oil fields continue to be a valued assets and this is evident in the increasing oil field investments.
