Global Energy Demand and Capacity Building in SA’s Petroleum Sector

There are no certainties here or any other major aspect of current estimate of Saudi capacity and world demand. Matthew Simmons, an outside analyst, has argued that the Kingdom reserves are overestimated by Saudi Aramco. Saudi Aramco claims that the total depletion rate of its oil fields, so far has been approximately 28%-30%. Mr. Simmons argues that Aramco is underestimating the depletion rates of the oil fields including Ghawar, the largest in the world, and that Saudi oil fields have a higher water cut than is reported by Aramco. The EIA forecasts that Saudi oil production capacity could reach 18.2 million bpd by 2020 and 22.5 million bpd by 2025.
CSIS via EnergyBulletin.net