Iraq said Sunday it has discovered deposits of crude, equivalent to one billion barrels of oil after the first exploration work by state-owned firms in almost 30 years.
Iraq
said
Sunday it has discovered deposits of crude, equivalent to one billion barrels
of oil after the first exploration work by state-owned firms in almost 30
years.
The deposits were found after exploration in Maysan province, in southern
Iraq
near
the border with
Iran
, and
could potentially make a significant addition to
Baghdad
's
already substantial reserves.
"Exploration began in Maysan, south of (provincial capital) Amara"
last year, oil ministry spokesman Assem Jihad told AFP.
"Today, it completed 100% and achieved a big success.
"The initial assessment from this discovery is about one billion barrels
of oil," he said, adding: "It will increase production capacity for
(state-owned) Maysan Oil Company."
Jihad said the state-owned oil exploration firm had been carrying out its first
exploration work within
Iraq
in
nearly three decades.
Iraq
,
which is highly dependent on oil sales for government revenue, has sought in
recent years to dramatically ramp up production and exploration in order to
help rebuild its conflict-battered economy and infrastructure.
The country has proven reserves of 143.1 billion barrels of oil and 3.2
trillion cubic metres (111.9 trillion cubic feet) of gas, both of which are
among the largest in the world.
Διαβάστε ακόμα
Τρι, 24 Σεπτεμβρίου 2024 - 19:58
Τρι, 24 Σεπτεμβρίου 2024 - 19:54
Τετ, 18 Σεπτεμβρίου 2024 - 18:32
Τετ, 18 Σεπτεμβρίου 2024 - 18:27
Τρι, 17 Σεπτεμβρίου 2024 - 20:01