Libya’s National Oil Corporation (NOC) announced Friday the discovery of a new oil field, named the “Eassar,” with estimated reserves of about 195 million barrels and an expected production capacity of around 5,000 barrels per day, Anadolu reports.
In a statement, the state-owned corporation, which manages Libya’s oil and gas sector, said the discovery was made by Austria’s OMV following the drilling of the B1-106/4 well and the completion of an evaluation of the company’s proposed development plan, which confirmed the field’s commercial viability.
It said the discovery is estimated to hold about 195 million barrels of oil in the Upper and Lower Sabil reservoirs in the Sirte Basin, which lies in central Libya and extends eastward.
The NOC said the field is expected to produce around 5,000 barrels per day.
It added that Zueitina Oil Operations Company, a subsidiary of the NOC, will oversee development of the discovery as operator.
