Baghdad: The Ministry of Oil announced a significant new discovery in Najaf province, revealing promising hydrocarbon indications of light crude oil in the Al-Qarnain exploration block. This discovery is expected to boost light crude production and support the country’s energy system.

According to Iraqi News Agency, Salim Al-Rikabi, the Oil Ministry spokesperson, stated that exploration and evaluation activities in the Al-Qarnain block have made substantial progress, fulfilling obligations required during the first exploration phase. Al-Rikabi confirmed that a two-dimensional seismic survey has been completed, and efforts are ongoing to process and interpret both old and new seismic data in preparation for future stages.

Al-Rikabi highlighted that the first exploration well uncovered a promising hydrocarbon presence of light crude oil. The project’s evaluation program has begun with the drilling of the first of three evaluation wells, aiming to accurately determine the reservoir and production characteristics.

However, Al-Rikabi noted that the size of the oil reserves, targeted production capacity, and final investment volume by Zhenhua Oil cannot be disclosed at this time, as the project remains in the exploration evaluation phase. It has not yet entered the development and commercial production phase. He emphasized that recoverable reserves will be established and a comprehensive development plan prepared after the evaluation program is completed, followed by the submission of the approved technical report for the announcement of the commercial discovery.

In the future development phase, Al-Rikabi indicated that there will be new production and development wells drilled, along with the establishment of necessary facilities and infrastructure for oil and gas processing and transportation, based on reservoir requirements. He stressed that the success of this project will significantly contribute to enhancing national reserves of light crude, increasing future production, and utilizing associated gas to strengthen the country’s energy system.