In this symposium a giant oil field is defined as one containing 100 million bbl or more of oil. Exceptions are those oil fields in the Middle East, North Africa, and eastern USSR where 500 million bbl, or more, are considered giants. Giant gas fields contain 1 Tcf, or more, except in the Middle East, North Africa, and eastern USSR where 3 Tcf, or more, are required.

During the 11-year period since the last AAPG symposium on giant fields (held in Oklahoma City in 1968), approximately 280 giant oil and gas fields have been found. These fields contain an estimated recoverable reserve of roughly 120 billion bbl of oil and 900 Tcf of gas. These fields account for about 60% of world oil and gas discovered during the period.

The 280 giant fields are distributed as follows: United States and Canada, 40; Latin America, 40: Europe, including western USSR, 55; Africa, 40 (8 north Africa; 32 other Africa); Far East, including China, 40; Eastern Russia, 30; and Middle East, 35.

With respect to numbers of giant fields being found, no decline in rate of discovery can be observed. Outside the United States and Canada, the discovery rate is increasing. However, the average size of giant discoveries is in marked decline, as is the discovery rate in barrels and cubic feet per year in total.

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