Iraq Announces Major Oil Discovery Near Saudi Border

The Iraqi Ministry of Oil has announced the discovery of a major oil field in the southern province of Najaf near the Saudi border.

Iraq said a newly discovered oil field near the Saudi border may contain more than 8 billion barrels of crude oil. (Photo: U.S. Navy)

Initial estimates indicate that one exploration block contains reserves exceeding 8.8 billion barrels of crude oil, Chaima Chihi reported for Euronews.

The Qurnain block is located in southwestern Iraq in Najaf province, approximately 180 kilometers from Baghdad along the Iraqi-Saudi border.

Covering about 8,773 square kilometers, it is considered one of Iraq’s most promising exploration areas. The contract to develop, explore, and produce oil from the site was signed on Oct. 17, 2024.

According to the ministry, drilling operations at the Shams-11 exploration well revealed light crude oil with an initial production capacity of 3,248 barrels per day.

The announcement came during a meeting between Iraqi Oil Minister Hayan Abdul Ghani and representatives of ZhenHua Oil, during which officials reviewed exploration progress and discussed advanced drilling technologies aimed at improving efficiency and accelerating development.

ZhenHua, through its subsidiary Qurnain Petroleum Ltd., is the primary operator of drilling and seismic survey operations in partnership with Iraq.