Venezuela
Venezuela is considered the richest country in proven oil reserves in the world, as it possesses approximately 300.878 million barrels. The oil sands in it are similar to those in Canada, but the tar sands in the Orinoco in Venezuela are considered much less viscous than the sands in Canada. Therefore, oil sands can be extracted there using traditional oil extraction methods, which gives it a significant advantage over its North American competitor in terms of the necessary capital and extraction costs.
Kingdom of Saudi Arabia
The Kingdom of Saudi Arabia possesses the second largest proven oil reserve in the world, estimated at approximately 268.000 million barrels, or approximately 16% of the world's proven reserves. The Ghawar oil field, which was discovered in 1948 AD and entered into production in 1951 AD, is what transformed the Kingdom of Saudi Arabia. Saudi Arabia has become a leading oil country, and it has proven to be the largest field in the world, producing about 55 billion barrels after sixty years of production. Saudi officials estimate that this field contains more than 120 billion barrels of recoverable reserves, if submergence is taken into account. Water. Saudi Arabia also includes eight giant oil fields, in addition to the Safaniya offshore field in the Arabian Gulf, which was discovered in 1951 AD, and is the third largest oil field in the world and the largest offshore field.
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Canada follows the Kingdom of Saudi Arabia in the classification of possessing the largest oil reserves in the world, making it the country that possesses the third largest oil reserves in the world, as its reserves are estimated at about 170.000 million barrels. The majority of accessible oil reserves are located in the province of Alberta, which covers the Western Basin. Canada Sedimentary Basin, with an area of about 1398.59 square kilometers, and there are more than twenty active projects in the province of Alberta, most of which are located near Fort McHenry, which is the site of the largest of the three oil sand deposits located in the Western Canadian Sedimentary Basin.
Iran
Iran has the fourth largest oil reserve in the world, with an estimated 160.000 million barrels of proven oil reserves. Iran produced oil for the first time in 1908 AD, and it is expected that Iranian oil production will continue for more than 100 years according to the current extraction rate. Iranian oil is found in About 150 hydrocarbon fields, a large number of which contain natural gas and crude oil.
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