NOC announces new oil discovery in Sirte Basin by Austria’s OMV – with test production of over 4,200 bpd and over 2.6 million cubic feet of gas per day

The National Oil Corporation (NOC) announced today a new oil discovery made by OMV Austria Ltd. – Libya Branch in the Sirte Basin – in Block 106/4, at well B1.

According to production tests, this exploratory well, which reaches a depth of 10,476 feet, produced an average daily production rate of over 4,200 barrels of oil and over 2.6 million cubic feet of gas per day.

This well represents the first discovery for OMV in Block 106/4, under the Exploration and Production Sharing Agreement (EPSA) signed in 2008 between the NOC, as the owner, and OMV, as the operator.