Libya unveils new oil discovery in south-west fields

The National Oil Corporation (NOC), in cooperation with Repsol’s Libyan branch, REMSA, has announced a new oil discovery in the Murzuq Basin in south-west Libya, following the drilling of the exploratory well J1-130/4 in Contract Area 130/131, around 800 kilometres from Tripoli.

In a statement published on its official Facebook page, the NOC said the well reached a final depth of 4,325 feet and recorded an estimated production rate of 763 barrels of crude oil per day from the Mamuniyat formation.

The corporation said the discovery marks the fifth well drilled under Repsol’s eight-well contractual commitment, in line with the Exploration and Production Sharing Agreement signed between the two sides in 2008.

The announcement is the latest indication of continued exploration activity in the Murzuq Basin, one of Libya’s key hydrocarbon regions, as efforts continue to support the country’s oil output and develop upstream investment.