Iraq announced the discovery of a new oil field in Najaf province, close to the Saudi border in the country’s southwest. The field, discovered by China-based Zhenhua Oil, holds estimated reserves of 8.83 billion barrels (bbbl). Current output is reported at 3,248 barrels per day (bbl/d) of light crude oil, Iraqi News reported.

During a meeting with a delegation from Zhenhua Oil, Iraqi Oil Minister Hayan Abdul-Ghani stated that a new oil reserve had been discovered in the al-Qarnain block. This block was awarded to the Chinese company under Iraq’s fifth supplementary and sixth licensing rounds.

The Al-Qarnain block lies in southwestern Iraq along the border with Saudi Arabia. Spanning 8,773 square kilometers, it is regarded as a highly promising area for oil exploration. The vast size of the area points to significant potential for additional reserves, opening the door to further exploration opportunities in the years ahead.

Zhenhua Oil, a state-owned enterprise under China’s Norinco Group, has been expanding its footprint in Iraq’s energy sector. The company now holds exploration rights to both the Al-Qarnain and Abu Khema blocks, underscoring its rising strategic importance in Iraq’s upstream oil industry.