May 21, 2024
Facts about Iran, Saudi Arabia, Iraq, top three OPEC nations in rig count
OPEC daily basket price stood at $61.70 a barrel
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By Eyo Nsima
Iran, Saudi Arabia and Iraq have emerged as the top three Organisation of Petroleum Exporting Countries, OPEC, nations in terms of rig count, a major index of measuring upstream activities in the oil and gas industry in February 2023.

The nations – Iran, Saudi Arabia and Iraq – recorded 117, 77 and 62 rig counts, according to the March 2023 Monthly Oil Market Report, MOMR, released by the Organisation of Petroleum Exporting Countries, OPEC.


According to OPEC, Iran, “Stretching from Turkey and Iraq to Turkmenistan and Pakistan, the Islamic Republic of Iran is the world’s 17th largest country in terms of territory, comprising around 1,648 thousand square kilometres. It is one of the world’s oldest continuous major civilizations.

“It has a population of around 84.9 million. The capital, Tehran, is located at the foot of the Alborz Mountains and is home to around seven million people. Most Iranians speak Farsi, while other languages include Azeri, Kurdish and Luri.

“Apart from petroleum, the country’s other natural resources include natural gas, coal, chromium, copper, iron ore, lead, manganese, zinc and sulphur. The national currency is the rial.

“The Islamic Republic of Iran’s President is HE Ebrahim Raisi. The country is a Founder Member of OPEC.

“The Dizin ski resort near Tehran sits at 3,800 metres and has several downhill runs. The Masjid-i-Solaiman, located in Khozestan province in the southwest of the Islamic Republic of Iran, was the country’s first oil well. It was drilled in 1908. It is also the first oil well in the Middle East.”


The organization stated: “The Middle Eastern Kingdom of Saudi Arabia straddles the Arabian Peninsula, bordered by Jordan, Kuwait and Iraq in the north and Oman and Yemen in the south. It is the 14th largest country in the world, covering around two million square kilometres, making it the second largest OPEC Member Country. Saudi Arabia has a population of around 35.5 million, more than seven million of whom live in the capital, Riyadh. Arabic is the official language.

“Saudi Arabia possesses around 17 per cent of the world’s proven petroleum reserves. Apart from petroleum, the Kingdom’s other natural resources include natural gas, iron ore, gold, and copper.

“The national currency is the riyal. The Sovereign is the Custodian of the Two Holy Mosques, HM King Salman Bin Abdulaziz Al-Saud. Saudi Arabia is a Founder and Member of OPEC.

“Saudi Arabia is home to the world’s largest continuous sand desert – the Rub Al-Khali, or Empty Quarter. Oil was first struck in Saudi Arabia in March 1938, at a depth of 1,440 metres in the Dammam oilfield.”


OPEC also stated that, “Sharing borders with three other OPEC Member Countries – the Islamic Republic of Iran, Kuwait and Saudi Arabia – Iraq covers an area of around 438 thousand square kilometres. It has a population of about 41 million, one-fifth of which lives in the capital, Baghdad. Most Iraqis speak Arabic, although Kurdish is also used, especially in the northern part of the country.

“Iraq attained its independence as a Kingdom in 1932. In 1958, a military coup d’état ended the monarchy, making Iraq a Republic.

“Apart from petroleum, Iraq’s other natural resources include natural gas, phosphates and sulphur. Its national currency is the dinar. The country has a varied landscape, which includes areas of desert, mountains and fertile regions.

“The country is a Founder Member of OPEC. Baghdad was the largest multicultural city of the Middle Ages and was the centre of learning during the Islamic Golden Age.”

It added: “The country is a Founder Member of OPEC. Iraq’s Kirkuk oilfield consists of three domes – Baba, Avanah and Khurmala. It was at the Baba dome that the country’s first productive oil well was drilled in 1927.”

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