BENGHAZI: Libya’s state-run Oil National Corp. (NOC) has announced a significant oil discovery in the Ghadames Basin, located in northwestern Libya near the Libyan-Algerian border.

According to a statement from NOC, well H1-NC4, operated by its subsidiary Arabian Gulf Oil Company (AGOCO), resulted in an estimated daily production of approximately 4,675 barrels per day (bpd) of crude oil and around 2 million cubic feet of gas.

The project is fully owned by NOC.

The announcement comes on the heels of another recent discovery in the Sirte Basin through Austrian oil and gas company OMV. This previous discovery demonstrated production testing capabilities exceeding 4,200 bpd of oil and over 2.6 million cubic feet of gas per day.

The news underscores Libya's ongoing efforts to boost its oil output capacity, with AGOCO alone reportedly reaching up to 310,000 bpd by the end of October.

This development is anticipated to positively impact Libya’s energy sector and potentially contribute to global oil supplies.