Iraq starts drilling 18 oil wells in the East Baghdad field
Baghdad (IraqiNews.com) – As part of a plan to drill 18 oil wells in the southern part of the East Baghdad field, the state-owned Iraqi Drilling Company (IDC) announced on Thursday that drilling had begun in the first well.
The Iraqi Ministry of Oil said in a statement that the step is part of the ministry's strategic goals and collaborative efforts with the Chinese company EBS to support and develop the country's oil sector.
With the company's dedication to implementing the highest quality and safety standards, the initiative aims to improve oil production and expand oil fields, which supports Iraq's national economy.
An enormous discovery just raised the reserves of the East Baghdad field, one of Iraq's most significant oil resources, to 15 billion barrels.
This discovery enhances Iraq's position as one of the world's top oil producers and creates new avenues for output expansion and revenue generation.
In collaboration with the Chinese oil company EBS, Iraq's Midland Oil Company (MOD) said on January 20 that two billion more barrels had been found in the oil field.
Given that this discovery represents the largest expansion in central Iraq's crude oil reserves in decades, the energy industry is paying close attention to it. A lot of study is being done to develop strategies to maximize productivity and use this important resource.
This finding raises the overall reserves of the East Baghdad field to 15 billion barrels, up from 13 billion barrels before the latest discovery, according to Mohammed Yassin Hassan, director general of the state-run MOC.
According to Attaqa News, the discovery is a major step that supports the Iraqi oil sector and increases national income because it is the largest in central Iraq.
According to development operations supervisor Haider Qais Mahmoud, the field's proven reserves were around 7.5 billion barrels when the development contract was signed with EBS in 2018. However, exploration and evaluation operations raised this amount to 15 billion barrels.
The finding enhances the country's production capacity while supporting its vital position in the global energy market.
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