TRIPOLI, April 8 (Xinhua) -- Libya's National Oil Corporation (NOC) on Wednesday announced a new oil and gas discovery in the Ghadames Basin, southwest of the country.
In a statement, the NOC said that drilling operations reached a final depth of 8,440 feet, with production rates estimated at around 13 million cubic feet of gas per day, in addition to 327 barrels per day of condensate, from the Ouinat Wanin and Ouinat Kaza formations.
The Ghadames Basin is located in a border region shared by Libya, Algeria and Tunisia, about 600 to 620 km southwest of Tripoli.
It is considered one of the most significant hydrocarbon basins in North Africa, due to its substantial oil and gas reserves.
Oil and gas exports are Libya's main source of revenue, but production has been repeatedly disrupted in recent years due to conflict and political instability.
