KUWAIT CITY, May 12 (Xinhua) -- Kuwait's Oil Minister Sheikh Ali al-Jarrah al-Sabah confirmed on Saturday that Kuwait's proven oil reserves are 48 billion barrels -- a figure conflicting with the previous official estimates of nearly 100 billion barrels.
In an interview with a Kuwaiti newspaper, Sheikh Ali Al-Jarrah said
unproved oil reserves in the country might reach 150 billion barrels.
The government had put its proven oil reserves at nearly 100 billion
barrels, or 10 percent of the world's total oil reserves. But some media have
raised doubts about the figure.
Sheikh Ali Al-Jarrah explained that there were often newly discovered
oil and gas fields whose details were not published out of energy security
concerns.
Different statistical methods may have also contributed to the
discrepancy in figures, he added.
The Kuwaiti government announced recently the discovery of a rich oil
field in northern Kuwait, but it did not disclose the size of the
field.