The new Tahara oil field in the Hamada area, in the west of Libya, will produce 14,000 barrels of oil per day, announced the Arabian Gulf Oil Company (AGOCO) in a press release.
Studies on on-site reserves indicate that output could rise to 40,000 barrels of oil per day through additional wells, AGOCO explains in the note.
The field inaugurated by Mustafa Sanallah, chairman of the National Oil Corporation (NOC), will also produce 6 million cubic feet of natural gas per day, used to fuel the field itself.