The National Oil Corporation (NOC) has announced a new oil discovery by OMV Exploration GmbH, Libya Branch, in the Sirte Basin. The discovery was made in Block 106/4 at well B1, marking the company’s first successful exploration in the area.
According to NOC, production tests showed that the exploratory well, drilled to a depth of 10,476 feet, achieved an oil flow rate exceeding 4,200 barrels per day. In addition, gas production rates reached more than 2.6 million cubic feet per day.
This milestone represents OMV’s first exploration success under the Exploration and Production Sharing Agreement (EPSA) signed in 2008 between the NOC, as the Libyan state-owned oil company, and OMV as the operator.
The NOC hailed the discovery as a significant achievement that reinforces the potential of the Sirte Basin — one of Libya’s most productive hydrocarbon regions. The corporation said the find demonstrates the ongoing attractiveness of Libya’s upstream sector to international investors, despite the country’s political and logistical challenges.
Industry experts view this discovery as a sign of renewed exploration activity in Libya, driven by improved cooperation between the NOC and foreign partners. The development aligns with Libya’s broader strategy to boost production capacity and attract further investment to revitalise its oil and gas industry.
The NOC reaffirmed its commitment to supporting OMV and other international operators working in Libya, stressing that discoveries like this one contribute directly to the country’s economic recovery and energy security.
