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The National Oil Corporation announces 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.
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.
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.
The National Oil Corporation announces a new oil discovery in the Sirte Basin