Libya announces three major oil and gas discoveries with international partners
Libya’s state-owned National Oil Corporation (NOC) has announced three new oil and gas discoveries made in partnership with major energy firms from Italy, Spain, and Algeria, according to separate statements released on Wednesday.
The first find was recorded in the Ghadames Basin in collaboration with a local production subsidiary and Algeria’s national energy company, Sonatrach. The site is producing around 13 million cubic feet of gas and 327 barrels of condensate per day. The basin lies in northwestern Libya, close to the Algerian border.
A second gas discovery was made with Italy’s Eni North Africa in offshore western Libya, about 95 kilometres from the coast. Tests from two wells showed output levels of 14 million and 24 million cubic feet of gas.
The third discovery came through a partnership with Spain’s Repsol, via its Libyan unit REMSA, in the Murzuq Basin roughly 800 kilometres south of Tripoli. Drilling tests indicated production of about 763 barrels of oil per day.
Oil remains the backbone of Libya’s economy, accounting for over 95% of its total output.
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