Wedoany.com Report-Nov. 7, Libya’s National Oil Corporation (NOC) has announced a new oil discovery in the Ghaddams basin. According to a statement posted on its Facebook page this week, the discovery was made for the Gulf Arab Oil Company at Al-Beer H1 - MN 4 (H1-NC4) in the Ghadams Al-Rasoubi basin. “The daily production of this well is estimated at 4,675 barrels per day of crude oil, and about two million cubic feet of gas,” the statement said. NOC emphasized that the project is 100 percent owned by the corporation.

Libya's National Oil Corporation announced the discovery of oil in the Ghaddams basin.

This announcement follows a previous discovery in the Sirte Basin, reported by NOC on October 29. That discovery was made by OMV Austria Ltd., Libya Branch, at well B1 in Block 106/4. Production tests indicate the exploratory well, drilled to a depth of 10,476 feet, is producing over 4,200 barrels of oil per day, with gas output expected to exceed 2.6 million cubic feet daily. NOC noted that this is OMV’s first discovery in Block 106/4 under the Exploration and Production Sharing Agreement (EPSA) signed in 2008, with NOC as the owner and OMV as the operator.

OMV confirmed the discovery in a LinkedIn post, stating: “OMV has safely completed an onshore exploration well in the Contract Area 106/4 (EPSA C103) of Libya’s Sirte Basin. The well, drilled in the ‘Essar’ prospect, encountered oil-bearing formations with estimated contingent recoverable volumes between 15 and 42 million barrels of oil equivalent.” The post highlighted that the site is near existing infrastructure, which could facilitate fast-track development. OMV said it is working closely with NOC to evaluate the discovery and plan next steps, aiming to streamline planning, manage costs, and reduce environmental impacts. The company also stressed adherence to strong health, safety, security, and environmental standards and reaffirmed its commitment to collaboration with NOC.

In addition to exploration updates, NOC commemorated the 64th anniversary of Libya’s first crude oil shipment on October 26. The historic shipment in 1961 sent crude from the Brega oil port to Genoa, Italy. The celebration at the Sirte Oil and Gas Company headquarters included NOC Chairman Masoud Suleman, board members, department directors, and representatives from NOC subsidiaries and affiliates. Suleman said: “This anniversary holds a special significance for all Libyans. It represents the true beginning of a national journey that sparked an economic renaissance.”

NOC describes itself as a leading national energy company committed to responsibly harnessing Libya’s natural resources, supporting long-term progress, and improving the quality of life in Libya and beyond. The recent discoveries in the Ghaddams and Sirte basins underscore the corporation’s ongoing efforts to expand domestic production while leveraging partnerships to develop energy resources efficiently and sustainably.

Overall, these discoveries, along with NOC’s historical milestones, reinforce Libya’s position in the global energy sector and highlight continued collaboration between national and international partners to enhance exploration, production, and responsible development of oil and gas resources.