Sonatrach Announces Significant Oil Discovery in Libya
Algeria’s state-owned oil and gas company, Sonatrach, has announced a substantial oil discovery in the Ghadames Basin, situated on Libya’s western border. The Libyan National Oil Corporation (NOC) confirmed the find in a statement, projecting that the new site could yield up to 4,200 barrels of oil per day. This discovery marks a significant step in Sonatrach’s ongoing operations within Libyan territory.
Expansion and Future Drilling
The NOC further stated that drilling equipment, specifically drilling rig No. 11, has been relocated to commence the drilling of three new wells for Sonatrach SIPEX. These operations will leverage integrated drilling management (IDM) techniques, with collaborative efforts involving various Libyan and international companies. This strategic approach highlights the importance of international partnerships in developing Libya’s energy resources.
This discovery builds upon Sonatrach’s established presence in Libya, stemming from a 2008 tender that granted the Algerian group the authorization to explore and produce oil in the region. The “commercial discovery of well A-65/2, located in the Ghadames Basin,” as announced by the NOC, signals a promising outlook for increased oil production and potential economic benefits for both Algeria and Libya.
Keywords
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