MANAMA: The Middle East has about 30 per cent of global heavy oil reserves amounting to about 500 billion barrels, according to Oil Minister Shaikh Mohammed bin Khalifa Al Khalifa.
In his keynote address to the second Middle East Heavy Oil Congress (MEHOC), Shaikh Mohammed said the Middle East’s vast heavy oil resources, much of which are still undeveloped, will be an important future energy source for the region, especially when conventional hydrocarbons dry out .