Libya Announces Fresh Oil, Gas Discoveries Near Algerian Border

Libya’s state-owned National Oil Corporation (NOC) has announced three new oil and gas discoveries made in partnership with leading international energy companies, strengthening momentum in the country’s hydrocarbon sector.

In a statement released on Wednesday, the NOC disclosed that the first discovery was made in the Ghadames Basin in northwestern Libya, close to the Algerian border.

The find was achieved in partnership with a production subsidiary and Algeria’s state energy company, Sonatrach. Initial tests indicate production levels of about 13 million cubic feet of gas per day, alongside 327 barrels of condensates.

The corporation also confirmed a second gas discovery in Libya’s western offshore region, approximately 95 kilometres from the coast. This project, executed with Italy’s Eni North Africa, recorded two successful test flows of 14 million and 24 million cubic feet of gas per day, respectively.

In a separate development, the NOC reported an oil discovery in the Murzuq Basin, located roughly 800 kilometres south of the capital, Tripoli. The exploration, conducted in collaboration with Spain’s Repsol through its Libyan affiliate REMSA, yielded a production rate of 763 barrels of oil per day following drilling and testing operations.

The latest discoveries underscore Libya’s continued efforts to revitalise its oil and gas industry and attract foreign investment despite ongoing economic and political challenges.