Business Update27 Apr 2026, 01:33 pm
Oil India: Hydrocarbon Discovery in Libya Block 95/96
AI Summary
Oil India Ltd, with a 25% participating interest in an Indian consortium, has announced a new gas and oil discovery in the onshore exploration Block Area 95/96 in Libya's Ghadames Basin. The discovery was made in the sixth well, A1-96/02, drilled by M/s SIPEX. The National Oil Corporation (NOC), Libya, has formally declared it the fifth discovery in the block. Further assessment is planned to evaluate the resource potential and progress towards development.
Key Highlights
- Oil India has a 25% stake in the Libya Block 95/96.
- The discovery was made in the sixth well, A1-96/02.
- NOC Libya declared it the fifth discovery in the block.
- Appraisal activities are planned to assess resource potential.
- The discovery expands Oil India's international footprint.