Libyan National Oil Corporation Discovers New Oil Well Producing 4,675 Barrels Daily in Ghadames Basin
The Libyan National Oil Corporation (NOC) has announced a significant oil discovery in an exploratory well located south of the Western Mountain in the Ghadames Basin, approximately 450 kilometers southwest of Tripoli.
According to the NOC, the newly drilled well is estimated to produce around 4,675 barrels of crude oil and 2 million cubic feet of natural gas per day.
Drilling operations began in late October under the supervision of the Arabian Gulf Oil Company (AGOCO), a subsidiary of the NOC.
The project forms part of the corporation’s broader strategy to boost Libya’s oil and gas production capacity.
The well is expected to reach a total depth of 11,700 feet and marks the tenth exploration drilled by the company in the same area since operations began in 1985.
Libya’s Minister of Oil and Gas, Khalifa Abdul Sadek, reaffirmed the government’s goal to raise national production to 1.6 million barrels per day next year, up from the current 1.4 million.
He noted that Libya holds proven reserves of about 48 billion barrels, with oil revenues contributing more than 90% of the state’s income.
Despite its potential, Libya’s oil sector continues to face challenges, including intermittent disruptions caused by political instability and the presence of armed groups controlling key oil sites.
These factors have repeatedly hampered production and slowed the country’s economic recovery.
Since the fall of Muammar Gaddafi in 2011, Libya has remained divided between two rival administrations the Tripoli-based Government of National Unity led by Abdul Hamid Dbeibah and the eastern government appointed by the House of Representatives under Osama Hammad.
The NOC remains a cornerstone of Libya’s economy, playing a critical role in managing national energy resources and ensuring the stability of oil exports amid ongoing political uncertainty.
