Iraq Scores Its First Oil Find in Decades
From CNN
By Mohammed Tawfeeq
Iraq’s state-owned oil exploration company has made the country’s first oil find in 30 years, an Oil Ministry spokesman said Monday.
The company found at least a billion barrels of crude under the ground in a southeastern province near the border with Iran, spokesman Assim Jihad said Monday.
The discovery in Maysan, about 350 kilometers (215 miles) south of Baghdad, is a “significant achievement” for the country, Jihad said.
Despite vast reserves and reliance on oil for government income, exploration in Iraq has been hindered by decades of conflict.
