According to the latest estimates (2001), the Kingdom's recoverable reserves now stand at 261.8 billion barrels. This figure represents an increase of 1.8 billion barrels on the 1993 estimate of 260 billion barrels. (An increase in recoverable reserves, despite the daily extraction of millions of barrels of oil, is made possible by the discovery of new oil fields and improved technology in exploiting existing field.)
Current estimates mean that Saudi Arabia has roughly 25% of the world's proven oil reserves.
As techniques for extraction improve and new reserves are found, it is estimated that the oil reserves of the Kingdom of Saudi Arabia will last for some 90 years.
