By Sami Zaptia.
London, 15 June 2020:
Sirte Oil Company, a subsidiary of the state National Oil Corporation (NOC), reported positive results for new test well A5-LP3D. The well, located south of the Wadi field, produced about 700 barrels of oil and without associated water and is expected to obtain even better results after the activation of the well, the company said.
The testing of this well is part of the drilling plan adopted by the NOC, which also adopted the plan to link the group of wells drilled in this concession to production, as part of the plan to increase Libya’s production capacity included in the NOC ‘s Exceptional Budget (Decree 1080/2019) granted to it by the Tripoli government led by Faiez Serraj.
It will nevertheless be recalled that due to the political and military fighting in Libya between forces loyal to Khalifa Hafter in the east and forces loyal to the internationally recognized government in Tripoli – oil production and exports have been halted since January this year costing the Libyan state over US$ 5 bn in lost income.