[en] Oil and natural gas potential of the Gulf Arab Countries is substantial. The proven oil reserves of these countries constitute 55% of total world proven oil reserves. The Gulf Arab Countries possess 576 billion barrels of proven crude oil reserves, as compared to total world proven oil reserves of around 1047. Natural gas resources are also plentiful in the Gulf Arab Countries. Proven natural gas reserves were estimated at around 26 trillion cubic metres, at the beginning of 1997. This figure represents around 17% of total world proven natural gas reserves of around 153 trillion cubic metres