National Oil Corporation has announced three new oil and gas discoveries in partnership with major international energy firms from Italy, Spain, and Algeria.
The discoveries, disclosed in separate statements on Wednesday, were made in different parts of the country and highlight Libya’s ongoing efforts to expand its hydrocarbon reserves and strengthen production capacity.
The first discovery occurred in the Ghadames Basin in northwestern Libya near the Algerian border. The project was carried out in collaboration with a production subsidiary and Algeria’s state-owned energy company, Sonatrach.
According to the NOC, tests from the well showed production rates of about 13 million cubic feet of gas and 327 barrels of condensates per day.
A second discovery was recorded offshore in western Libya in partnership with Eni North Africa, part of the Italian energy group Eni.
The offshore discovery is located approximately 95 kilometres from the Libyan coast. Two separate tests conducted at the site recorded gas flow rates of 14 million cubic feet and 24 million cubic feet respectively.
The third discovery was made in the Murzuq Basin, about 800 kilometres south of the capital, Tripoli.
The exploration activity was conducted by the Libyan branch of the Spanish energy company Repsol, known locally as Repsol Exploracion Murzuq S.A..
Tests conducted after drilling indicated an oil production rate of approximately 763 barrels per day from the exploratory wells.
The new discoveries come as Libya continues efforts to revitalise its energy sector following years of political instability that disrupted oil production.
Oil remains the backbone of Libya’s economy, accounting for more than 95 per cent of the country’s economic output and government revenue.
Industry analysts say continued exploration and partnerships with international oil companies could help Libya stabilise production and strengthen its position in global energy markets.
