Libya announces new oil and gas discovery in key basin
Source: energynews.africa
National Oil Corporation (NOC) announced on Wednesday a new oil and gas discovery in the Ghadames Basin, located in the southwest of Libya.
In a statement, the NOC said drilling operations reached a final depth of 8,440 feet, with production rates estimated at approximately 13 million cubic feet of gas per day, along with 327 barrels per day of condensate from the Ouinat Wanin and Ouinat Kaza formations, News.Az reports, citing Xinhua.
The Ghadames Basin lies in a border region shared by Libya, Algeria, and Tunisia, about 600 to 620 kilometers southwest of Tripoli.
It is regarded as one of the most important hydrocarbon basins in North Africa due to its considerable oil and gas reserves.
Oil and gas exports remain Libya’s primary source of revenue, although production has been repeatedly disrupted in recent years amid ongoing conflict and political instability.
News.Az
By Nijat Babayev
