Baghdad: The state-owned Naft Al-Wasat Company announced the discovery of a significant oil field in central Iraq, containing over two billion barrels of oil. The discovery was made public on Saturday, highlighting the country's potential to further expand its oil reserves.
According to Kuwait News Agency, the company revealed that the field was discovered east of Baghdad in collaboration with the Chinese company EBS. Preliminary tests conducted at the site have shown promising results, indicating the extraction of substantial amounts of medium and light crude oil. The company's Director General Mohammad Yassin stated that this new discovery is expected to contribute significantly to Iraq's oil reserves, with an estimated daily output of 5,000 barrels of crude oil.
Iraq is known for its abundant crude reserves, which are among the largest in the world, estimated at 145 billion barrels. This new discovery is set to enhance the country's position in the global oil market and potentially increase its export capacity.