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Iraq Says its Proven Oil Reserves Are 143 Billion Barrels

Iraq has proven oil reserves of 143 billion barrels and possible additional deposits that may bring its total reserves to 214 billion barrels, said Hussain al- Shahristani, the country’s deputy prime minister for energy.

“This puts Iraq at the top of the list of countries with large reserves,” he said at a conference in London today. The minister was reiterating a figure of 143.1 billion barrels that he announced in October 2010, which he said at that time does not include oil in the semi-autonomous Kurdish region.

The world’s largest oil reserve holders include Saudi Arabia, the biggest, and Iran, Iraq, Venezuela and Canada, once oil sands and heavy oil deposits are included, according to BP Plc (BP/)’s Statistical Review of World Energy. BP listed a figure of 115 billion barrels for Iraq in its June 2011 review.

To contact the reporter on this story: Grant Smith in London at gsmith52@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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