Iraq Hits Massive JACKPOT as it discovers treasure of ‘blue gold’ worth Rs…, reserve to add more than two billion barrels of…

Punjab's Minister for Mines, Sher Ali Gorchani, has said that gold reserves worth approximately 700 billion Pakistani rupees are present in Attock.

Baghdad: Iran has reportedly discovered a major crude oil (blue gold) reserve. The Iraqi Midland Oil Company (IMOC) shared the information on Monday. The company stated that a significant oil reserve has been found in eastern Baghdad. According to the reports, this crude oil reserve will add more than two billion barrels of new oil to Iraq’s reserves.

The company’s Director General, Mohammad Yasin Hassan, revealed that initial tests indicate the well can produce 5,000 barrels of crude oil daily. This discovery is important to Iraq’s economy, as more than 90% of the country’s revenue comes from crude oil exports.

The Iraqi Midland Oil Company (IMOC), a state-owned enterprise, has described this discovery as strategically significant for Iraq. It will not only enhance the country’s oil reserves but also boost its production capacity. “This discovery holds strategic importance as it increases Iraq’s oil reserves and enhances its production capabilities,” Mohammed Yaseen Hassan said.

Iraq’s Land Holds a Treasure Trove of Oil

It is important to note that Iraq is a member of the Organization of the Petroleum Exporting Countries (OPEC) and already has over 145 billion barrels of oil reserves. Iran’s economy depends on crude oil exports.

The discovery of an additional 2 billion barrels of oil is expected to strengthen Iraq’s economic position. Experts believe this discovery is truly significant and could prove to be a game-changer for Iraq, enhancing its regional influence as well.

The government of Pakistan’s Punjab province recently claimed to have discovered a gold reserve. Punjab’s Minister for Mines, Sher Ali Gorchani, has said that gold reserves worth approximately 700 billion Pakistani rupees are present in Attock. Gorchani mentioned that a 32-kilometer area in Attock contains gold deposits estimated at 2.8 million tolas.