South Oil Company Finds Oil, Gas in Iraq's Sindbad Field

South Oil Company has found oil and gas in Sindbad 2 field within Sindbad oil field, Shafaq News reported Thursday citing company official.

Sindbad field is located in Shatt al- Arab district of Iraq near the border with Iran.

The company has dug wells at a depth of 4,371 meters and discovered large quantities of crude oil and natural gas in Yamama layer, a company statement said.

"We believe that this discovery will change the number of Iraqi crude oil reserves and natural gas," Shafaq News quoted from the statement.

It is scheduled to for a large number of oil and gas exploration areas to be submitted to tender in new licensing rounds organized by the Ministry of Oil at mid of next year, the news item said.

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