Tatneft has drilled exploration wells in Libya and the flow rate from some of them is good, Deputy CEO of the Russian oil producer Nurislam Syubaev told Russian state-owned news agency TASS on the sidelines of the Russia-Africa summit.
“We have drilled exploration wells in line with the prospecting plan. We got a good production rate from some of them. We are now doing cost efficiency calculations. If they are positive, we will move to the pilot development stage,” the executive said.
“Yes. We will certainly [complete the estimates this year]. Then we will understand whether to continue,” he added, answering a question about whether Tatneft would complete estimates this year.
In October 2021, Tatneft announced that it was resuming exploration in Libya.