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Germany’s RWE makes new oil discovery in Libya

German utility group RWE has made a new oil discovery in the Libyan Sirte Basin, the fourth since April last year, Libya’s National Oil Corporation (NOC) said on Friday.

“The new discovery (is) at the exploration E1-NC 193 and F1-NC 193 wells at area 193 in Sirte Basin,” it said in a statement. Tests showed oil output was at 704 barrels per day (bpd) at a choke point of 32/64 on its Dahra formation in the E1-NC 193 well and at 439 bpd at a similar choke point on the same formation in the F1-NC 193 well, it said in the statement posted on its website.

RWE’s first oil find in Sirte Basin in 2007 was announced by NOC in April. Its second discovery came in September last year also in the Sirte Basin and its third in May in the same Basin, according to NOC’s previous statements. NOC owns 68% and RWE has 32% in each of the discoveries. (Reuters)