Saudi Arabia holds the title as the world's largest producer and exporter of total petroleum liquids, and the country's national corporation, Saudi Aramco retains the most proven reserves and production of hydrocarbons worldwide. Only behind Russia as the largest crude oil producer, Saudi Arabia has an estimated 267 billion barrels of proven oil reserves, including 2.5 billion in the Saudi-Kuwaiti Neutral Zone, and 253 trillion cubic feet (Tcf) of proven natural gas reserves. Impressively, more than half of Saudi Arabia's oil reserves are sourced from only eight fields.
Regulatory Compliance deals with the required permits, licenses and compliance to guidelines and legislation associated with oil and gas projects and operations. It is the regulation that a company must adhere to in order to meet certain requirements imposed by guidelines or laws.