"The new field, named Salman, is an important step towards expanding the company's operations outside of Russia," the company said in a press release on Wednesday, May 23.

"[We can confirm] the discovery of crude oil after drilling a well to a depth of 4277 meters, which indicates the discovery of reserves of crude in Block 12 in the south-west of Iraq."

According to NRT the company added "The new discovery will contribute to increased crude production for the OPEC member, which is suffering from financial difficulties after its war against terrorism,".

It is worth mentioning that the company Rosneft is one of the largest Russian oil companies and is involved with Lukoil and Gazprom Naft in oil projects in Iraq and the Kurdistan region.

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