'The Iran’s Unique Position in terms of hydrocarbon reserves is as follows: I. Iran is endowed with 155 billion barrels of oil equivalent to 10.9% of the global oil reserves. II. Iran owns 18% of the global natural gas reserves equal to 34 TCM of natural gas. III. Iran’s current exploration projects will lead to a considerable increase in the country’s oil and gas reserves. IV. Presently, 62 onshore oil fields,16 offshore oil fields,20 onshore gas fields, and 2 offshore gas fields are in operation in Iran. V. 26% of hydrocarbon reserves and 50% of natural gas reserves are located across Iran’s common borders with its neighbors.'