New Oil Discovery in Ghadames Basin

The Libyan National Oil Corporation (NOC), along with Algerian state-owned Sonatrach, have made an oil and natural gas discovery in the Ghadames Basin, about 370 miles southwest of Tripoli.

The discovery consists of one oil field with a capacity of 8,200 barrels per day (bpd), and a gas deposit with a capacity of 1,700 cubic meters per day.

The discoveries were made in Areas 95/96; no time frame for the development was announced.

(Sources: Bloomberg, UPI, Libya Herald)

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