Libya’s state-run National Oil Corporation (NOC) announced on Wednesday three new oil and gas discoveries with major energy companies from Italy, Spain and Algeria, the NOC said in separate statements.
The first discovery is in the Ghadames oil basin, done in conjunction with a production subsidiary and Algeria’s state-owned energy company Sonatrach, showing production rates of 13 million cubic feet of gas and 327 barrels of condensates daily, NOC said.
The Ghadames basin is located in northwestern Libya, near the Libyan-Algerian border.
The second gas discovery was with Italy’s Eni North Africa, with two separate tests showing flow rates of 14 million cubic feet and 24 million cubic feet.
The discovery is in the western Libya offshore area approximately 95 kilometers from the coast.
The NOC also made a discovery with Spain’s Repsol Libyan branch REMSA at exploratory wells in Murzuq Basin, some 800 kilometers south of Tripoli. Tests after drilling showed a production rate of 763 barrels of oil per day, it said.
Libya’s economy relies on oil for more than 95% of its economic output.
–Reuters–
