The Iraqi Central Oil Company (ICOC), in cooperation with the Chinese company (EBS), has announced the achievement of a major oil discovery in the southern East Baghdad field.
Mohammed Yassin Hassan, the company's general manager, said in a press statement that the main exploratory well testing operations in the East Baghdad field had achieved great success, as a highly productive oil flow of medium and light oil was obtained.
He expected that it would add more than two billion barrels to Iraq's oil reserves, making it the largest oil discovery in central Iraq.
He noted that the initial tests of the well showed a daily production rate of up to 5,000 barrels of crude oil.
This new oil discovery enhances Iraq's production capabilities in the oil sector.