Title: Persian Gulf - Economic aspects | Britannica
Headings: Economic aspects
Economic aspects
Biological and mineral resources
Discover the extraction of natural gas from the North Field Bravo, off the coast of Qatar
Transportation
Study and exploration
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Content: Large fishing industries have been set up in Kuwait, Qatar, and Bahrain, and some countries have become exporters of fish. Yields in the northwest have been affected, however, by the construction of large dams on the rivers, which restrict the supply of nutrients into the gulf. Oil refinery on the island of Hālūl in the Persian Gulf, Qatar. © Peter Sanders
Discover the extraction of natural gas from the North Field Bravo, off the coast of Qatar
Drilling for natural gas off the coast of Qatar in the Persian Gulf. Contunico © ZDF Enterprises GmbH, Mainz See all videos for this article
Since World War II the Persian Gulf and the surrounding countries have come to account for a significant proportion of the world’s oil production. In addition, the area has approximately two-thirds of the world’s estimated proven oil reserves and one-third of the world’s estimated proven natural gas reserves. The region thus has acquired considerable strategic significance for the world’s industrialized countries. Exploration has remained active, and new reserves are continually being discovered, both on land and offshore. Control of these reserves has led to numerous legal wrangles among states about exact territorial limits and has been at least partially responsible for major conflicts in the region: the Iran-Iraq War of the 1980s, the Persian Gulf War of the early 1990s, and the Iraq War of the early 21st century.