Libya Announces New Onshore Oil Discovery

Libya’s National Oil Corporation (NOC) said on Tuesday its wholly-owned subsidiary Arabian Gulf Oil Company (ACOGO) has made a new oil discovery in the Ghadames basin in northwestern Libya, close to the Libyan-Algerian border. The discovery was made in well H1-NC4, with daily production estimated at about 4,675 barrels per day of crude oil, and approximately 2 million cubic feet of gas, NOC said in the statement carried by Reuters. Last week, the Libyan state oil company announced a new oil discovery by the Libyan subsidiary of Austrian…