Oil India Limited announces hydrocarbon discovery at onshore exploration block in Libya

Oil India Limited (OIL) has announced a hydrocarbon discovery in the onshore exploration block in Libya. OIL has a 25 per cent participating interest and is a part of an Indian consortium along with IOCL in the onshore exploration Block Area 95/96 located in the Ghadames basin in south-western Libya. It covers an area of approximately 6,630 square km. The drilling of the sixth well (A1-96/02) has resulted in a new oil and gas discovery. Confirmatory testing was carried out by the National Oil Corporation (NOC), Libya, which formally declared the well as the fifth discovery in the Block. A detailed assessment of the discovery is now planned to ascertain its resource potential and support further development activities. The block is operated by SIPEX and has a commitment of eight exploratory wells. Drilling has already been completed on five wells, of which oil discovery was made in four between 2012 and 2014.