The National Oil Corporation (NOC) announced last Thursday (16 July) the commercial viability of the Essar (Cyclone) discovery made by the Austrian company OMV.
This follows the drilling of well B1-106/4 and the completion of an evaluation of the development plan submitted by the company to the NOC, a study which confirmed the discovery's commercial potential.
The discovery holds total reserves of 195 million barrels of oil across the Upper and Lower "Al-Sabeel" reservoirs, with an expected production capacity of approximately 5,000 barrels of oil per day.
Development operations will be carried out by the operator, Zueitina Oil Company. The discovery is expected to be brought on stream as quickly as possible due to its proximity to existing surface facilities.
