The production rates of the B1-NC216A exploration well, located in Block NC216 of the Ghadames Basin in western Libya, have achieved outstanding and unprecedented results, exceeding expectations. The well recorded a flow rate exceeding 2,000 barrels per day, confirming the presence of highly productive reservoirs and opening promising prospects for developing the region.
This success was driven by integrated geological and reservoir studies conducted by Sirte Oil Company, supported by advanced interpretation of 3D seismic data. This approach allowed the technical teams to identify high-potential targets with great precision, choose optimal drilling locations, and target the most productive reservoirs with outstanding operational efficiency.
This discovery marks a major step forward for exploration in the block, and preparations are currently underway to drill the third well in the coming days. The new well is expected to raise production rates to more than 4,000 barrels per day, boosting the block锟絪 economic value and supporting future development plans.
Mr. Mustafa Hamad, Chairman of the Board of Directors, praised the National Oil Corporation锟絪 Exploration Department for its key role, citing its strong interest, ongoing commitment, and steadfast support for drilling operations in these blocks through daily, hands-on monitoring. He said this demonstrates how institutional efforts are aligned to achieve strategic objectives.
He said this success is an important step toward transforming the block into a new oil field, adding to the company锟絪 existing assets and strengthening its position in the oil and gas sector. He credited the diligent follow-up and direct guidance of Engineer Masoud Suleman, Chairman of the NOC, who consistently emphasizes the need to expand exploration across all oil blocks and integrate new discoveries into the production system as soon as possible. This will help maximize reserves and increase production rates.
It is also worth noting that the NOC made major discoveries in several sedimentary basins last year, and has recorded five discoveries this year. This reflects the Board of Directors锟� policy of replenishing produced reserves and bringing new fields into production to supporting efforts to increase the country锟絪 oil and gas production capacity.