Rosneft, the state owned Russian oil giant, have this week announced the discovery of a new oil field in Iraq. This discovery follows over a year of exploratory drilling the area 350km south of Baghdad, which started in February 2017.
The company is a major investor in the Kurdistan region of Iraq with a majority stake in the key oil pipeline that runs to Turkey, in addition to an oil purchasing deal.
The new oil field, named Salman, will now provide the opportunity for further expansion for the company throughout Iraq.
Source: The Moscow Times