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Oil Corporation Announces Commercial Discovery of "Al-Esar" in Sirte Basin
The National Oil Corporation of Libya announced that the Austrian company OMV has successfully discovered a new oil field in the Sirte Basin, called "Al-Aisaar" (The Hurricane). The total estimated reserves of the discovery amount to about 195 million barrels of oil, with expectations of production reaching approximately 5,000 barrels per day. The well "B1-106/4" has been drilled, and a comprehensive assessment of the development plans has been conducted. Production operations are expected to begin swiftly due to the proximity of the site to surface facilities. This marks OMV's first discovery in the region, and development operations are anticipated to be led by the Zueitina Oil Operations Company.
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