New discoveries highlight significant potential of Libya's oil and gas sector, says NOC Chairman Suleiman
via Libya Herald4 min read
Masoud Suleiman, Chairman of the National Oil Corporation NOC, stated that recent oil and gas discoveries by Sonatrach, Repsol, and Eni underscore the substantial potential of Libya's oil and gas sector. These discoveries, made in the Murzuq and Ghadames basins, as well as an offshore area, align with the NOC's strategy to develop hydrocarbon resources. Exploration activities led to initial oil production of 763 barrels per day in the Murzuq Basin and gas flows between 14 and 24 million cubic feet per day offshore. A new discovery in the Ghadames Basin, through exploration well A1-69/02, recorded production rates of 13 million cubic feet of gas and 327 barrels of condensate per day. Suleiman emphasized that these achievements, made in partnership with Repsol, Eni, and Sonatrach, demonstrate the NOC's commitment to ongoing exploration to boost reserves and sustain the sector's contribution to the national economy.
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