Tripoli – The National Oil Corporation has announced the commercial viability of the “Al-Eisaar” discovery made by Austria’s OMV at concession 103. This follows the completion of a development plan evaluation that confirmed the find’s commercial potential.
According to an official statement, the discovery was confirmed after drilling the B1-106/4 well. Studies indicate the total reserves are estimated at about 195 million barrels of oil in both the Upper and Lower Sabil reservoirs.
The corporation stated the expected production capacity is around 5,000 barrels per day. Development operations will be managed by the Zueitina Oil Company.
The corporation also noted that the discovery’s proximity to existing surface facilities will speed up the process of bringing it into production. This effort is part of ongoing plans to develop oil fields and boost Libya’s oil output.
The announcement aligns with the National Oil Corporation’s program to capitalize on new discoveries and strengthen oil sector reserves and production.