Libya Makes New Oil, Gas Discovery

Libya has made a new oil and natural gas discovery in the Ghadames basin southwest of Tripoli, media reports have said.

This new oil & gas find was made by the Libyan National Oil Corporation (NOC) and Algerian state-owned Sonatrach, North Africa Post reported. The discovery consists of one oil field with a capacity of 8,200 barrels per day (bpd), and a gas deposit with a capacity of 1,700 cubic meters per day.

Libya, an OPEC member, is now pumping more than a million barrels a day as the oil industry recovers from months of armed conflict that led to the collapse of Gadhafi regime.