TEHRAN – First Vice President Parviz Davudi said that Iran possesses 280 billion cubic meters of different kinds of energies, 155 billion barrels of which are oil and gas.

Speaking in the inauguration ceremony of the 11th International Exhibition of Oil, Gas and Petrochemicals (Iran Oil Show 2006) on Thursday, Davudi went on to say that according to the 20-year outlook plan, the Islamic Republic of Iran will be internationally recognized as the first power in the region with regards to its natural energy resources.

He also said that Iran is quite aware of its potential facilities and is planning its future projects with regards to them.

Davudi noted that during the next 20 years, energy will turn into one of the most significant factors in every country’s development and social welfare, and Iran will make use of its rich energy resources in developing peace and security in the world.

Elsewhere in his remarks, Davudi said that the crude oil resources in the whole world have been about 1,189 billion barrels in the year 2004, from among which Iran holds some 11%, while the whole Middle East holds some 61.7%.

He also said that some 75 million barrels of crude oil are being daily used in the world and added that the United States (23%), China (13.5%), Russia, Japan, Germany and Canada are respectively the main oil consumers in the world.

He further noted that there are currently some 180,000 billion cubic meters of gas in the world, while Iran possesses 15.5%, Russia possesses 27% and the whole Middle East possesses 13.5% of the whole gas reservoir in the world.

Davudi underlined that investment is quite significant in the progress and development of oil, gas and petrochemicals, and the Islamic Republic of Iran should play a significant role in determining the security of investment.

He continued that the Headquarter for Investment Security has been established in the country to solve any kind of bureaucratic problems.

In conclusion, the first vice president said that the unity between the Iranian nation and government is being daily fostered and the recent access of Iran to the nuclear fuel technology is the result of this unity. SA/MA END MNA