Libya's NOC has announced that the 'Essar' discovery made by OMV Austria is commercially viable. This follows the drilling of well B1-106/4 and the completion of the development plan evaluation process submitted by the company to the NOC. The study confirmed the discovery’s commercial viability.
Total reserves from the discovery are estimated at 195 million barrels of oil from the upper and lower 'Sabil' reservoirs, with an expected production capacity of about 5,000 barrels per day.
Development work for the discovery will begin under the operator, Zueitina Oil Operations Company, and is expected to bring it into production as quickly as possible thanks to the site’s proximity to existing surface facilities.
Source: NOC
