Libya’s state-run National Oil Corporation (NOC) \u200bannounced on Wednesday three new oil and \u200cgas discoveries with major energy companies from Italy, Spain and Algeria, the NOC said in separate statements.<\/p>\n
The first discovery \u200bis in the Ghadames oil basin, done in \u200bconjunction with a production subsidiary and Algeria’s \u2060state-owned energy company Sonatrach, showing production rates of \u200b13 million cubic feet of gas and 327 \u200bbarrels of condensates daily, NOC said.<\/p>\n
The Ghadames basin is located in northwestern Libya, near the Libyan-Algerian border.<\/p>\n
The second gas discovery \u200bwas with Italy’s Eni North Africa, with \u200btwo separate tests showing flow rates of 14 million cubic \u200cfeet \u2060and 24 million cubic feet.<\/p>\n
The discovery is in the western Libya offshore area approximately 95 kilometers from the coast.<\/p>\n
The NOC also made a \u200bdiscovery with \u200bSpain’s Repsol \u2060Libyan branch REMSA at exploratory wells in Murzuq Basin, some 800 kilometers \u200bsouth of Tripoli. Tests after drilling showed a \u200bproduction \u2060rate of 763 barrels of oil per day, it said.
\nLibya’s economy relies on oil for more \u2060than \u200b95% of its economic output.<\/p>\n
–Reuters–<\/p>\n","protected":false},"featured_media":14211,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-31180","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Libya's economy relies on oil for more \u2060than \u200b95% of its economic output.","published_date":"","news_description":"Libya's economy relies on oil for more \u2060than \u200b95% of its economic output.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/31180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/31180\/revisions"}],"predecessor-version":[{"id":31181,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/31180\/revisions\/31181"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/14211"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=31180"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=31180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}