The Middle East and North Africa (MENA) region's oil reserves have increased by 82 billion barrels over the past five years from 729 billion barrels in 2003 to 811 billion barrels in 2008, according the Energy Information Administration (EIA). Recent estimates released by the EIA in its 2008 World Energy Outlook report showed that the world's total proven crude oil reserves have increased by 119 billion barrels since 2003, rising from 1.21 trillion barrels to 1.33 trillion barrels in 2008. Close to 70 percent of this increase was attributed to rising reserve levels in the MENA region. The bulk of this rise came from the Middle East, with four countries accounting for a 63-billlion-barrel increase in reserves. Iran increased reserves by 49 billion barrels over the period 2003-08 to 138 billion barrels. Kuwait's proven oil reserves have grown by nearly 8 billion barrels over the last five years, leaving the Gulf state with a current level of 104 billion barrels. Saudi Arabia's oil reserves grew to 267 billion barrels in 2008, an increase of 5 billion barrels over 2003's figure, while Iraq's oil reserves increased by about 3 billion barrels, to reach a total of 115 billion barrels. Yemen, however, witnessed fall in its proven oil reserves of 1 billion barrels in 2007, with the level remaining constant in 2008. North Africa, which possesses far smaller oil reserves than the Gulf region, has also witnessed a rise in oil reserves since 2003. Total proven crude oil reserves in North Africa increased from 43 billion barrels in 2003 to nearly 63 billion barrels in 2008, representing a 19-billion-barrel increase. Libya's oil reserves have grown by 12 billion barrels over the past five years, to 41 billion barrels. Proven oil reserves in Algeria rose to an estimated 12 billion barrels in 2008, from just 9 billion barrels in 2003. Sudan's oil reserves, which had held steady at just under 0.6 billion barrels until 2007, jumped to 5 billion barrels. __
