Saudi Gazette - The last barrel of oil:
"Many people ask when will the last barrel of oil in the world be produced? Indeed, the answer to this question is debatable among the international petroleum experts. The scientific answer to this challenging and important question can vary from 50 to more than 100 years depending on many assumptions which include the global economic growth, the increasing global oil consumption, the new oil discoveries and the development & innovation with respect to the hydrocarbon recovery technologies.
The only important fact that those international experts do not dispute on is the fact that the last produced barrel of oil in the world will be produced from this blessed land of Saudi Arabia. In other words, the last barrel of oil will be Saudi.
Added to that, 25% of the world's oil reserves are located in Saudi Arabia and 50% in the Middle East region. Furthermore, the average annual depletion rate of the Saudi oil fields is estimated to be approximately 2% compared to 5-6% in the rest ofthe world's oil fields, which in the long run will increase the Kingdom and the Middle East region oil reserves % as compared to the world to 50% and 80%, respectively."
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