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Iran's oil, gas reserves at $3,000b: daily

Tehran, Jan 2, IRNA-Iran has 3,000 billion dollars worth of oil and gas reserves at current prices, a member of the presiding board of Sharif University of Technology, Abbas Maleki, said.

The Persian-language daily `Khabar' on Monday quoted Maleki as saying that while Iran has one percent of the world's population, it owns 10 percent of the world's proven oil reserves and 16 percent of its gas reserves.

Maleki said that with Iran's huge oil and gas reserves, it was necessary to "codify" its plans and strategies to develop and promote its energy-related industries.

He noted that Saudi Arabia, Russia, Norway, Iraq and Iran were the most important oil and gas producers in the world, and urged effective domestic and foreign investment policies in these states in light of the growing demand for energy.

The university professor called for the development of urgent programs to attract new investment in Iran's energy industries, and warned that "competition from countries like Saudi Arabia, Qatar, the United Arab Emirates, Russia and Kuwait could divert investment in their favor to the disadvantage of Iran."

He further cited the need to come up with decisive answers to issues such as finding renewable sources of energy, advantages and shortcomings of oil deals with foreign companies, privatization of the oil industry and joint management of resources shared with neighboring states as among the challenges facing development of the country's oil and gas industries.

... Payvand News - 1/3/06 ... --

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