Indian consortium makes gas and oil discovery in Libya’s Ghadames Basin

Oil India Limited (OIL) and Indian Oil Corporation (IOCL), as part of an Indian consortium with a combined 25% participating interest, made a gas and oil discovery in onshore exploration Block Area 95/96 in the Ghadames Basin, south-western Libya.

The block, covering approximately 6,630 sq km, is operated by SIPEX and carries a commitment of eight exploratory wells. Of the first five wells drilled, four resulted in oil and gas discoveries during 2012–2014. The sixth well, A1-96/02, has now added a further discovery following resumption of activities. Libya’s National Oil Corporation formally declared it the fifth discovery in the block following confirmatory testing.

Appraisal activities are planned to assess the overall resource potential and support progression toward development.