Oil and Gas Reserves

An estimate of the amount of crude oil in a given economic region is known as oil reserves. Oil reserves must be able to be extracted under present technological limits in order to qualify. Venezuela, Saudi Arabia, and Canada are the top three oil-producing countries in the world. According to estimations, the world's oil reserves are projected to exceed 1.73 trillion barrels.

A complex blend of gaseous hydrocarbons makes up natural gas reserves. Natural gas reserves are substantial amounts of natural gas that are thought to exist with a high degree of certainty based on geological surveys and engineering research. These reserves are not only known to exist, but they are also accessible and economically viable to extract. Natural gas is mostly composed of methane, with minor amounts of ethane, propane, butane, pentane, and other higher hydrocarbons contributing to its calorific value. Dry gas, wet gas, and gas-condensate are the three types of natural gas reserves found in conventional gas fields (non associated gas).