Oil Reserves may last for 54 years ( BP data)

Country	Reserves as on 2011	% of Total	R/P Ratio
US	30.9	1.9%	10.8
Canada	175.2	10.6%	*
Mexico	11.4	0.7%	10.6
Total North America	217.5	13.2%	41.7
Argentina	2.5	0.2%	11.4
Brazil	15.1	0.9%	18.8
Colombia	2.0	0.1%	5.9
Ecuador	6.2	0.4%	33.2
Peru	1.2	0.1%	22.2
Trinidad & Tobago	0.8	0.1%	16.7
Venezuela	296.5	17.9%	*
Other S. & Cent. America	1.1	0.1%	22.1
Total S. & Cent. America	325.4	19.7%	*
Azerbaijan	7.0	0.4%	20.6
Denmark	0.8	*	10.0
Italy	1.4	0.1%	34.3
Kazakhstan	30.0	1.8%	44.7
Norway	6.9	0.4%	9.2
Romania	0.6	*	18.7
Russian Federation	88.2	5.3%	23.5
Turkmenistan	0.6	W	7.6
United Kingdom	2.8	0.2%	7.0
Uzbekistan	0.6	*	18.9
Other Europe & Eurasia	2.2	0.1%	15.2
Total Europe & Eurasia	141.1	8.5%	22.3
Iran	151.2	9.1%	95.8
Iraq	143.1	8.7%	*
Kuwait	101.5	6.1%	97.0
Oman	5.5	0.3%	16.9
Qatar	24.7	1.5%	39.3
Saudi Arabia	265.4	16.1%	65.2
Syria	2.5	0.2%	20.6
United Arab Emirates	97.8	5.9%	80.7
Yemen	2.7	0.2%	32.0
Other Middle East	0.7	*	37.1
Total Middle East	795.0	48.1%	78.7
Algeria	12.2	0.7%	19.3
Angola	13.5	0.8%	21.2
Chad	1.5	0.1%	36.1
Rep. of Congo (Brazzaville)	1.9	0.1%	18.0
Egypt	4.3	0.3%	16.0
Equatorial Guinea	1.7	0.1%	18.5
Gabon	3.7	0.2%	41.2
Libya	47.1	2.9%	*
Nigeria	37.2	2.3%	41.5
Sudan	6.7	0.4%	40.5
Tunisia	0.4	*	15.0
Other Africa	2.2	0.1%	27.0
Total Africa	132.4	8.0%	41.2
Australia	3.9	0.2%	21.9
Brunei	1.1	0.1%	18.2
China	14.7	0.9%	9.9
India	5.7	0.3%	18.2
Indonesia	4.0	0.2%	11.8
Malaysia	5.9	0.4%	28.0
Thailand	0.4	*	3.5
Vietnam	4.4	0.3%	36.7
Other Asia Pacific	1.1	0.1%	10.4
Total Asia Pacific	41.3	2.5%	14.0
Total World	1652.6		54.2

Proved reserves of oil - Generally taken to be those quantities that geological and engineering information indicates with reasonable certainty can be recovered in the future from known reservoirs under existing economic and operating conditions.

Reserves-to-production (R/P) ratio - If the reserves remaining at the end of any year are divided by the production in that year, the result is the length of time that those remaining reserves would last if production were to continue at that rate.                     

Source- BP Worldwide