Oil reserves denote the amount of crude oil that can be technically recovered at a cost that is financially feasible at the present price of oil. Hence reserves will change with the price, unlike oil resources, which include all oil that can be technically recovered at any price. Reserves may be for a well, a reservoir, a field, a nation, or the world. Different classifications of reserves are related to their degree of certainty.
The proven oil reserves in Venezuela are recognized as the largest in the world, totaling 297 billion barrels (4.72×1010 m3) as of 1 January 2014. In early 2011, then-president Hugo Chávez and the Venezuelan government announced that the nation's oil reserves had surpassed that of the previous long-term world leader, Saudi Arabia. OPEC said that Saudi Arabia's reserves stood at 265 billion barrels (4.21×1010 m3) in 2009.
As of 2007, the proven oil reserves in Mexico were 12.4 billion barrels. The US Energy Information Administration estimated Mexican proved reserves to be 10.3 billion barrels as of 2013.
The Pescăruș oil field is an oil field located on the continental shelf of the Black Sea. It was discovered in 1999 and developed by Petrom. It began production in 2001 and produces oil. The total proven reserves of the Pescăruș oil field are around 100 million barrels (14×106tonnes), and production is centered on 5,000 barrels per day (790 m3/d). The field also produces around 17.9 million cubic feet/day (0.5×105m³) of gas and has reserves of 114 billion cubic feet (3.2×109m³).
The Lebăda Est oil field is an oil field located on the continental shelf of the Black Sea. It was discovered in 1987 and developed by Petrom. It began production in 1989 and produces oil. The total proven reserves of the Lebăda Est oil field are around 50 million barrels (6.8×106tonnes), and production is centered on 15,000 barrels per day (2,400 m3/d). The field also produces around 53.5 million cubic feet/day (1.5×105m³) of gas and has reserves of 242 billion cubic feet (6.9×109m³).
The Sinoe oil field is an oil field located on the continental shelf of the Black Sea. It was discovered in 1991 and developed by Petrom. It began production in 1999 and produces oil. The total proven reserves of the Sinoe oil field are around 20 million barrels (2.7×106tonnes), and production is centered on 3,000 barrels per day (480 m3/d). The field also produces around 10.7 million cubic feet/day (0.3×105m³) of gas and has reserves of 71 billion cubic feet (2×109m³).
The Țicleni oil field is an oil field located in Țicleni, Gorj County. It was discovered in 1940 and developed by Petrom. It began production in 1940 and produces oil. The total proven reserves of the Țicleni oil field are around 30 million barrels (4.39×106tonnes), and production is centered on 4,500 barrels per day (720 m3/d). The oil field is expected to produce around 9,000 barrels per day (1,400 m3/d) by 2015.
The Delta IV oil field is an oil field located on the continental shelf of the Black Sea. It was discovered in 2007 and developed by Petrom. It began production in 2009 and produces oil. The total proven reserves of the Delta IV oil field are around 30 million barrels (4.1×106tonnes), and production is centered on 2,500 barrels per day (400 m3/d).
The Gherăieşti gas field is a natural gas field located in Bacău, Bacău County. It was discovered in 2009 and developed by and Aurelian Oil & Gas. It began production in 2010 and produces natural gas and condensates. The total proven reserves of the Gherăieşti gas field are around 52 billion cubic feet (1.5 km³), and production is slated to be around 3.52 million cubic feet/day (0.1×105m³) in 2010.
The Pișcolt oil field is located in Pișcolt, Satu Mare County, Romania. The oilfield was discovered in 2005 and developed by the Romanian oil company Rompetrol. Production began in 2008, the total proven reserves of the Pișcolt oil field are around 20 million barrels. Production is around 500 barrels per day (79 m3/d).
The Brădești oil field is an oil field located in Păușești, Vâlcea County. It was discovered in 1970 and developed by Petrom. It began production in 1971 and produces oil. The total proven reserves of the Brădești oil field are around 100 million barrels (14×106tonnes), and production is centered on 3,500 barrels per day (560 m3/d).
Lubiatów-Międzychód-Grotów oil field is a Polish oil field that was discovered in 1993. It is one of the biggest on-shore oil field of Poland. It began production in 1994 and produces oil. Its oil proven reserves are about 38 million barrels (6.0×10^6 m3) and natural gas proven reserves are around 160 billion cubic feet (4.5×109m³).
Dębno oil field is a Polish oil field that was discovered in 2004. It is one of the biggest on-shore oil field of Poland. It began production in 2005 and produces oil. Its oil proven reserves are about 30 million barrels (4.8×10^6 m3) and natural gas proven reserves are around 283 billion cubic feet (8×109m³).
The Kachanivsky oil field is a Ukrainian oil field that was discovered in 1961. It began production in 1962 and produces oil. The total proven reserves of the Kachanivsky oil field are around 127 million barrels (17.9×106tonnes), and production is centered on 2,000 barrels per day (320 m3/d).
The Lelyakivsky oil field is a Ukrainian oil field that was discovered in 1963. It began production in 1965 and produces oil. The total proven reserves of the Lelyakivsky oil field are around 372 million barrels (52.4×106tonnes), and production is centered on 2,000 barrels per day (320 m3/d).
The Prinos oil field is an oil field located in the northern Aegean Sea, between the island of Thasos and city of Kavala on the mainland. It was discovered in 1971 and developed by Energean Oil & Gas. It began production in 1975. The total proven reserves of the Prinos oil field are around 90 million barrels (12×106tonnes), and production is centered on 1,900 barrels per day (300 m3/d). It is named after the village of Prinos on Thasos, the nearest inhabited place.
Kumkol Oil Field is an oil field located in Kyzylorda Province 200 kilometers from the town of Kyzylorda (4°51'02.9"N 65°28'48.9"E). It was discovered in 2008 and developed by PetroKazakhstan. The oil field is operated and owned by PetroKazakhstan. The total proven reserves of the Kumkol oil field are around 300 million barrels (41×106tonnes), and production is centered on 78,000 barrels per day (12,400 m3/d).
The Gachsaran oil field is an Iranian oil field located in Kohgiluyeh and Boyer-Ahmad Province and is around Gachsaran city or Dogonbadan. It was discovered in 1928 and developed by Anglo-Persian Oil Company. It began production of Crude oil in 1930. The total proven reserves of the Gachsaran field are around 52.9 billion barrels (9394×106tonnes), and production is centered on 560,000 barrels per day (89,000 m3/d). The field is owned by National Iranian Oil Company (NIOC) and operated by National Iranian South Oil Company (NISOC).
The Irina oil field is an oil field located on the continental shelf of the Black Sea. It was discovered in 2010 and developed by Sterling Resources. It will begin production in 2015 and will produce oil. The total proven reserves of the Irina oil field are around 68 million barrels (9.6×106tonnes), and production is centered on 3,000 barrels per day (480 m3/d).
The Gîsca oil field is an oil field located on the continental shelf of the Black Sea. It was discovered in 2010 and developed by Sterling Resources. It will begin production in 2015 and will produce oil. The total proven reserves of the Gîsca oil field are around 21 million barrels (2.9×106tonnes), and production is centered on 1,000 barrels per day (160 m3/d).
