"OPEC will produce at least 50% of world oil by 2008"

[Clara T]

With Iran as the world's second leading supplier of Natural Gas.

That explains a few things, doesn't it?

[Clara T]

1. Iran holds 125.8 billion barrels of proven oil reserves

The vast majority of Iran's crude oil reserves are located in giant onshore fields in the southwestern Khuzestan region near the Iraqi border and the Persian Gulf. Iran has 32 producing oil fields, of which 25 are onshore and 7 offshore. Major onshore fields include the following: Ahwaz-Asmari (700,000 bbl/d); Bangestan (around 245,000 bbl/d current production, with plans to increase to 550,000 bbl/d), Marun (520,000 bbl/d), Gachsaran (560,000 bbl/d), Agha Jari (200,000 bbl/d), Karanj-Parsi (200,000 bbl/d); Rag-e-Safid (180,000 bbl/d); Bibi Hakimeh (130,000 bbl/d), and Pazanan (70,000 bbl/d). Major offshore fields include: Dorood (130,000 bbl/d); Salman (130,000 bbl/d); Abuzar (125,000 bbl/d); Sirri A&E (95,000 bbl/d); and Soroush/Nowruz (60,000 bbl/d).

According to the Oil and Gas Journal (1/1/04), Iran holds 125.8 billion barrels of proven oil reserves, roughly 10% of the world's total, up from 90 billion barrels in 2003. In October 1999, Iran announced that it had made its biggest oil discovery in 30 years, a giant onshore field called Azadegan located in the southwestern province of Khuzestan, a few miles east of the border with Iraq. Reportedly, the Azadegan field contains proven crude oil reserves of 26 billion barrels. In July 2004, Iran's oil minister stated that the country's proven oil reserves had increased again, to 132 billion barrels, following new discoveries in the Kushk and Hosseineih fields in Khuzestan province.

http://www.globalsecurity.org/military/ops/oplan-1002.htm

[rman]

2. that's four years worth of global oil consumption

just to put things in perspective.

[Clara T]

3. kick n/t