Libya’s NOC and partner OMV declared the commercial viability of the ‘Essar’ discovery Sirte Basin oil heartland on 16 July. The Austrian firm had resumed drilling in 2024 for the first time since the 2011 revolution (MEES, 1 November 2024).
OMV made the discovery at the B1–106/4 well (on ‘Block 4’ of ‘Area 106’) in late 2025, with output initially expected to reach 4,200 b/d and estimated recoverable volumes of 15-42mn boe (MEES, 31 October 2025). (CONTINUED - 211 WORDS)