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Kuwait oil reserves secret for national security

May 6, 2007

KUWAIT (RTRS): Kuwait will never disclose the size of its oil reserves for reasons of national security, Oil Minister Sheikh Ali Al-Jarrah Al-Sabah was quoted as saying after Kuwait announced a new oil find. “Kuwait has not and will not disclose the size of its oil reserves,” he told Al-Arabiya Television late on Monday. “The Kuwait people are not concerned with numbers. This is related to national security.” Industry newsletter Petroleum Intelligence Weekly (PIW) said in January 2006 it had seen internal Kuwaiti records showing reserves were about 48 billion barrels — half the officially stated 99 billion, or some 10 percent of global oil reserves. Kuwait’s former oil minister, Sheikh Ahmad Al-Fahd Al-Sabah, has said that PIW’s report only paints a partial picture while other oil officials said the report was inaccurate. PIW said official public figures do not distinguish between proven, probable and possible reserves. Sheikh Ali told Arabiya that just because some fields were not proven it did not mean there was no oil there but that they were not being used.

Source: Arab Times.

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