Source link : https://europ.info/2025/11/01/exciting-new-oil-discovery-in-sirte-basin-yields-over-4200-barrels-of-oil-and-2-6-million-cubic-feet-of-gas-daily/
The National Oil Corporation (NOC) of Libya has announced a significant new oil discovery in the Sirte Basin, made by Austria’s energy company OMV. The find is already yielding promising test production rates, with over 4,200 barrels of oil per day and more than 2.6 million cubic feet of gas daily. This development marks a notable boost for Libya’s hydrocarbons sector amid ongoing efforts to revitalize the country’s oil output, as reported by the Libya Herald.
NOC Confirms Major Oil Find in Sirte Basin Boosting Libya’s Energy Prospects
The National Oil Corporation (NOC) has revealed a significant oil discovery in Libya’s prolific Sirte Basin, marking a promising development for the country’s energy sector. Conducted in partnership with Austria’s OMV, the exploration well has demonstrated impressive initial test production rates exceeding 4,200 barrels per day (bpd) of oil and more than 2.6 million cubic feet of natural gas per day. This breakthrough not only underscores Libya’s rich hydrocarbon potential but also signals a potential boost in the nation’s export capacity and energy revenues amid ongoing efforts to stabilize production levels across the region.
Industry experts highlight several key impacts of the discovery:
- Enhanced exploration optimism: Renewed confidence for foreign investors looking at Libya’s untapped reserves.
- Supply diversification: The area’s new output contributes to wider resource distribution within the…
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Author : Olivia Williams
Publish date : 2025-11-01 05:40:00
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