Commenting on yesterday’s three announcements of new oil and gas discoveries by Sonatrach, Repsol and Eni, the Chairman of the National Oil Corporation (NOC), Masoud Suleiman, affirmed that the new discoveries made in the Murzuq and Ghadames basins, as well as the offshore area, reflect the significant potential of Libya’s oil and gas sector and support the NOC’s strategic directions in developing its hydrocarbon resources.
He explained that recent exploration activities resulted in initial oil production in the Murzuq Basin reaching 763 barrels per day, in addition to achieving gas flows ranging between 14 and 24 million cubic feet per day in the offshore area, which strengthens the indicators of success in expanding the production base.
He added that the new discovery in the Ghadames Basin, through the exploration well (A1-69/02) located 70 kilometres from the Wafa field, recorded production rates of 13 million cubic feet of gas and 327 barrels of condensate per day, which represents a significant addition to supporting the country’s oil and gas reserves.
He pointed out that these results were achieved within the framework of strategic partnerships with Repsol and Eni, in addition to cooperation with Sonatrach, stressing the institution’s commitment to continuing exploration activity to increase reserves and compensate for production, which enhances the sustainability of the sector and its role in supporting the national economy.
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The NOC and Repsol Libya Branch announce a new oil discovery in the Murzuq Basin
