Iraq Announces Discovery of New Oil Field in Najaf Province

Iraqi Ministry of Oil's Media Office

The new oil field in Najaf province near the Saudi border in the southwest of Iraq.

Iraq announced on Wednesday the discovery of a new oil field in Najaf province near the Saudi border in the southwest of the country, following exploration work carried out by the Chinese company Zhenhua.

Iraqi Deputy Prime Minister and Oil Minister Hayyan Abdul Ghani stated during a meeting with a delegation from Zhenhua that the new discovery was made in the Al-Qarnain block, which had been awarded to the company under the fifth supplementary and sixth licensing rounds.

According to a statement issued by the Ministry of Oil, the field’s potential reserves are estimated at approximately 8.835 billion barrels, while initial production is expected to reach around 3,248 barrels per day of light crude oil.

The Oil Minister stressed the importance of accelerating work on oil projects in order to sustain crude oil production and maximise the utilisation of associated natural gas.

Al-Qarnain block is located in southwestern Iraq within Najaf province, approximately 180 kilometres from Baghdad along the Iraqi-Saudi border. It is regarded as a promising exploration area covering around 8,773 square kilometres.

The contract for the exploration, development, and production of oil in the block was signed on 17 October 2024.



PUKMEDIA