National Oil Corporation announces commercial viability of Essar discovery in concession 103 with OMV
via Libya Herald1 min read
The National Oil Corporation NOC announced the commercial viability of the Essar Cyclone discovery, made by the Austrian company OMV. This announcement followed the drilling of well B1-106/4 and an evaluation of OMV's development plan, which confirmed the discovery's commercial potential. The Essar discovery, located in concession 103, holds total reserves of 195 million barrels of oil across the Upper and Lower "Al-Sabeel" reservoirs. It is projected to have an expected production capacity of approximately 5,000 barrels of oil per day. Zueitina Oil Company will conduct the development operations. Due to its proximity to existing surface facilities, the discovery is expected to commence production as quickly as possible.
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This summary was AI-generated from a story originally published by Libya Herald.
Must ReadThe Man-Made River MMR reported a complete power outage across the entire Eastern Region early Saturday morning at 12:45 AM. This blackout, which the Benghazi-based 'Ministry of Electricity' had announced would affect areas from Misrata to the Egyptian border, cut off electricity to wellfields in Sarir and Tazerbo, as well as the water pumping station in Benghazi. Power began to be gradually restored at 8:00 AM, with electricity returning to the Sarir wellfield. Three technical teams were deployed to restart the field and bring the wells back online. Operations are awaiting power restoration to the Tazerbo wellfield for full well operations to resume. Due to these emergency conditions, the MMR reduced water supplies to certain cities and agricultural projects to prevent the main system pipeline from draining and to build up water reserves in the Ajdabiya collection and balancing reservoir. The MMR stated that standard water supplies to all cities will gradually resume once all wells are operational and reservoir water levels normalize. The MMR emphasized that the well stoppage was a direct result of the general power outage in the Eastern Region, a situation beyond its control. This incident follows a previous power cut affecting 92 MMR wells on July 14.
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