Baghdad: The Ministry of Oil announced on Saturday the commencement of drilling the first exploratory well in the northern provinces since 1978. The initiative marks a significant development in Iraq's oil exploration efforts, as it aims to enhance the country's hydrocarbon reserves and increase national resources.

According to Iraqi News Agency, in a statement from the ministry, it was revealed that the technical and engineering staff of the Iraqi Drilling Company have begun drilling a new exploratory well within the Amerli district in Salah al-Din Governorate. This project is being executed under a tripartite contract involving the North Oil Company, the Iraqi Drilling Company, and the Oil Exploration Company. The commencement of this drilling was attended by the Director General of the Iraqi Drilling Company and the Director General of the North Oil Company.

The statement highlighted that this well is the first of its kind in the northern governorates since 1978. This step aligns with the Oil Minister Bassem Mohammed Khudair's directions to revitalize exploration work and develop promising blocks and reservoirs, with the aim of enhancing the hydrocarbon stock of oil and gas and increasing national reserves. The ministry is committed to its exploration programs focused on boosting hydrocarbon reserves.

The ministry further explained that the project is a testament to the coordination and integration among national oil formations, including the North Oil Company, the Iraqi Drilling Company, and the Oil Exploration Company. This collaboration aims to maximize hydrocarbon wealth and invest it optimally.

Increasing proven oil and gas reserves and compensating for depletion is identified as a strategic objective for the Ministry of Oil. This strategy is essential for enhancing Iraq's global oil standing and supporting long-term oil sector development plans. The development of hydrocarbon reserves is anticipated to enhance the country's future production capacity and provide Iraq with greater flexibility in managing oil production and exports.

Minister Khudair emphasized that the Ministry of Oil is committed to implementing plans to expand exploration activities in promising areas. The initiative is expected to contribute to bolstering national reserves with new discoveries, enhancing economic sustainability, and supporting Iraq's position as one of the world's leading countries in terms of oil and gas wealth.