In a statement posted on its Facebook page this week, which was translated, Libya’s National Oil Corporation announced the discovery of oil in the Ghaddams basin.
“The National Oil Corporation announced the discovery of a new oil for the Gulf Arab Oil Company in Al-Beer H1 – MN 4 (H1-NC4) located in the Ghadams Al-Rasoubi basin,” the translated statement said.
“The daily production of this well is estimated at 4,675 barrels per day of crude oil, and about two million cubic feet of gas,” it added.
In the statement, the National Oil Corporation highlighted that the project is 100 percent owned by the corporation.
In a statement posted on its website on October 29, Libya’s National Oil Corporation announced a new oil discovery in the Sirte Basin.
“The National Oil Corporation (NOC) has announced a new oil discovery by OMV Austria Ltd. – Libya Branch in the Sirte Basin, specifically at well B1 in Block 106/4,” the National Oil Corporation said in that statement.
“Production tests show that this exploratory well, reaching a depth of 10,476 feet, is producing over 4,200 barrels of oil per day, with gas production expected to exceed 2.6 million cubic feet daily,” it added.
“This well marks 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,” Libya’s National Oil Corporation pointed out.
When Rigzone asked OMV for comment on this statement, an OMV spokesperson directed Rigzone to an OMV post on LinkedIn about the discovery.
“OMV has safely completed an onshore exploration well in the Contract Area 106/4 (EPSA C103) of Libya’s Sirte Basin,” OMV noted in that post.
“The well, drilled in the ‘Essar’ prospect, encountered oil-bearing formations with estimated contingent recoverable volumes between 15 and 42 million barrels of oil equivalent,” it added.
“Situated close to existing infrastructure, the site offers potential for fast-track development. OMV, as operator during the exploration phase, is working closely with the Libyan National Oil Corporation to assess the discovery and consider the next steps,” it continued.
“The proximity to infrastructure will streamline planning, manage costs, and reduce the environmental footprint of future production. The well was drilled with strong performance in health, safety, security and environmental practices,” it said.
“OMV highly values its ongoing collaboration with NOC and remains committed to supporting the responsible development of Libya’s energy resources,” OMV went on to state in that post.
In a statement posted on its site on October 26, Libya’s National Oil Corporation announced that it commemorated the 64th anniversary of its first crude oil shipment that day at the headquarters of the Sirte Oil and Gas Company.
“This historic shipment, which took place in 1961, marked the export of crude oil from the Brega oil port to Genoa, Italy,” the corporation said in that statement.
“The celebration was attended by the Chairman and members of the NOC’s Board of Directors, various department directors, heads of management committees from the NOC’s subsidiaries and affiliates, as well as other representatives,” it added.
“In a speech at the event, Engineer Masoud Suleman, Chairman of the Board of Directors of the NOC, highlighted that this anniversary holds a special significance for all Libyans. He noted that it represents the true beginning of a national journey that sparked an economic renaissance,” it went on to state.
On its website, Libya’s National Oil Corporation describes itself as a leading national energy company committed to harnessing the natural energy resources of the country in a responsible way, driving long-term progress and improving lives in Libya and beyond.
To contact the author, email andreas.exarheas@rigzone.com
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