NO. 5



New Discovery at North Rumaila

A new reservoir of light (49.5 API), low-sulfur crude oil has beendiscovered at a depth of 4,700 ft. at the North Rumaila oilfield in southernIraq, according to Mr. Isam al-Chalabi, the Iraqi Oil Minister. The discoverywell, North Rumaila 172, was drilled by the state-owned Southern Oil Company,and tests are currently under way to delineate the size of the field. The IraqiMinister added that the find is part of a country-wide...