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No. 1: Safaniya field in the Persian Gulf, Saudi Arabia, is the...

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    No. 1: Safaniya field in the Persian Gulf, Saudi Arabia, is the world's largest offshore field. It is owned and operated by Saudi Aramco, the national oil and natural gas company of Saudi Arabia. The field is believed to contain an estimated total reserve of more than 50 billion barrels. The recoverable oil reserves at the field are reportedly estimated to be up to 36 billion barrels.
    Safaniya was discovered in 1951 and has been in production since 1957. It is operated with more than 624 production wells and a series of different platforms. Daily production capacity of the heavy crude oil producing field is up to 1.5 million barrels.

    No. 2: Upper Zakum oil field, located 84km north-west of Abu Dhabi Islands, United Arab Emirates (UAE), in the Persian Gulf, is the second largest offshore oil field in the world. The offshore oil field reportedly contains around 50 billion barrels of oil in total with an estimated recoverable oil reserve of up to 21 billion barrels.
    The Upper Zakum field was discovered in 1963 and brought on stream in 1967. It is owned and operated by Zakum Development Company (ZADCO), which is a joint venture of Abu Dhabi National Oil Company (ADNOC-60%), ExxonMobil (28%) and Japan Oil Development Company (JODCO-12%).

    No. 3: Manifa oil field, located south-east of the Safaniya field in the shallow waters of Persian Gulf, Saudi Arabia, is reported to contain an estimated recoverable oil reserve of up to 13 billion barrels. It is a heavy crude oil producing offshore field owned and operated by Saudi Aramco.
    Manifa field was discovered in 1957. It started production in 1964 with a daily capacity of 200,000 barrels. It was brought offline in 1984 due to reduced demand for its heavy crude. Saudi Aramco made an investment decision in 2007 to restart production from Manifa, with increased capacity as the oil price exceeded $70 per barrel.

    No. 4: Kashagan oil field is located 80km south-east of Atyrau in the North Caspian Sea, Kazakhstan, and is the largest offshore field outside the Middle East. The field contains more than 35 billion barrels of oil in total and an estimated recoverable oil reserve of nine billion barrels. It was discovered in 2000 and commercial development was announced in 2002.
    The field is being developed in phases by the North Caspian Sea Production Sharing Agreement (NCSPSA) consortium comprised of KMG (KazMunayGas-16.81%), Eni (16.81%), ExxonMobil (16.81%), Shell (16.81%), Total (16.81%), ConocoPhillips (8.40%) and INPEX (7.56%).

    No. 5: The Lula field, earlier known as the Tupi field, is a major pre-salt oil discovery in the Santos Basin, Brazil. It was discovered by a consortium led by Petrobras in 2007. The estimated recoverable oil reserve in the Lula field as of 2010 stood at 6.5 billion barrels.
    Petrobras operates the Lula field with a 65% stake. BG Group and Galp Energia hold 25% and ten percent stakes respectively. Production from the first phase of pilot production project in the Lula field began in 2010. Production from the north-east area of Lula field started in 2011.

    Once the Block 9 "Upper" and "Shallow" estimated reserves are defined, we could potentially be looking at a new entry into the top 5 or 10 largest oil fields in the world, especially given the age of some of the current title holders. Our share price is currently a tad over 3 Australian cents. Do the math......and YOR. My opinion only.
 
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