The world may be pushing renewables, but oil reserves remain at the heart of global energy. In 2025, countries like Venezuela, Saudi Arabia, and Guyana are drilling millions of barrels per day from some of the largest oil reserves ever documented. Here’s where the real action is—and what makes these drilling zones critical to the global economy.
Here’s an in-depth look at the top drilling hotspots worldwide—and what sets each region apart.
1. Venezuela – Orinoco Belt (~303 B Barrels of Oil Reserves)
Venezuela holds the largest proven oil reserves on Earth, most of it buried in the Orinoco Belt’s thick, extra-heavy crude.
Chevron, working alongside PDVSA, is expanding efforts with over 30 new wells by 2025. Despite sanctions and deteriorating infrastructure, production in 2025 reached 888,000 bpd—just shy of the country’s target.
2. Saudi Arabia – Ghawar & Eastern Fields (~267 B Barrels)
Home to Ghawar—the largest onshore oil field globally—Saudi Arabia produces 9 to 11 million bpd through its state-owned giant, Saudi Aramco.
These oil reserves are among the most accessible and cost-effective, making Saudi Arabia one of the most efficient oil producers worldwide.
3. Iran – Multiple Fields (~208.6 B Barrels)
Iran controls over 100 oil fields, with 78 currently active. Despite sanctions, its National Iranian Oil Company manages to produce around 2.1 million bpd from these oil reserves.
4. Canada – Alberta Oil Sands (~171 B Barrels)
Canada’s oil reserves are mostly found in Alberta’s oil sands—thick deposits requiring complex extraction. Suncor and CNRL lead production exceeding 5 million bpd, despite environmental challenges.
5. Iraq – Southern Mega-Fields (~145 B Barrels)
Iraq drills primarily in Basra, tapping into a massive portion of its estimated 145 billion barrels. Output is above 3 million bpd and expected to increase in late 2025.
6. Guyana – Stabroek Offshore (~11 B Barrels)
Guyana has rapidly emerged as an oil-producing force. The Stabroek Block, led by ExxonMobil and now including Chevron, produced 650,000 bpd in 2024 and could double by 2027.
7. Brazil – Pre-Salt Offshore Reserves (~50–100 B Barrels)
Brazil is focused on its deepwater pre-salt reserves using high-tech floating platforms. Petrobras leads offshore development in Espírito Santo and Rio.
8. Kuwait & UAE – Middle Eastern Giants
Kuwait: 102 B barrels in reserves, mostly from Burgan, producing 2.7 million bpd.
UAE: 97 B barrels tapped via offshore rigs like Upper Zakum, yielding 3 million bpd.
Worth a Mention
- United States: Still the top oil producer (22 million bpd), but oil reserves are spread across many smaller fields.
- Russia: With ~80 billion barrels, Russia produces ~10.7 million bpd, mostly from Western Siberia.
- Antarctica: Potentially holds over 500 billion barrels, but drilling is banned until at least 2048.
From Venezuela’s vast—and complex—Orinoco Belt to Guyana’s meteoric offshore ascent, global oil drilling is active and evolving. Technological advances, finance injections, geopolitical sanctions, and environmental pressures shape each region’s trajectory. Despite shifting energy narratives, these reserves—and the drilling operations unlocking them—continue to anchor the global energy system.
Explore the Global Oil Infrastructure Map
Want to explore where these oil reserves are being tapped and transported? The Global Oil Infrastructure Tracker by Global Energy Monitor offers an up-to-date, interactive map showing oil fields, refineries, and pipelines across the planet.
🗺️ Click here to view the Global Oil Map
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