India’s state-run oil companies are part of a consortium that has made a fresh hydrocarbon discovery in Libya’s Ghadames Basin, finding gas and condensate in the Contract Area 95/96 block in Libya.
The Ministry of Petroleum and Natural Gas on Tuesday, 28 April, congratulated Oil India and Indian Oil for the discovery, saying the Indian consortium is working with SIPEX of Algeria, which is the operator of the block.
The well was completed to a final depth of 8,440 feet. During testing, it produced 13 million cubic feet of gas and 327 barrels of condensate per day from the Awynat Wanin and Awyn Kaza formations.
“Congratulations on the successful new oil & gas discovery to Oil India Limited and Indian Oil Corporation Limited (the Indian Consortium partners with SIPEX, Algeria as the operator) in the contract area 95/96 in Ghadames Basin, Libya,” the ministry said.
“The well was completed to a final depth of 8,440 feet and achieved production of 13 million cubic feet of gas and 327 barrels of condensate per day during testing from the Awynat Wanin and Awyn Kaza formations,” the ministry added.
In a statement on Monday, 27 April, Oil India said it holds a 25% participating interest in the onshore Area 95/96 block in south-western Libya, spanning about 6,630 sq km, as part of an Indian consortium with Indian Oil.
The block is operated by SIPEX and carries a commitment of 8 exploratory wells.
Five wells had already been drilled earlier, of which four led to oil and gas discoveries during 2012-2014.
With the resumption of exploration activity, drilling of the sixth well, A1-96/02, has resulted in a fresh gas and oil discovery, reinforcing the block’s prospectivity.
Following confirmatory testing, Libya’s National Oil Corporation has formally declared the well as the fifth discovery in the block.
Further appraisal activities are planned to firm up the overall resource potential and support progression towards development,
Oil India said the development marks a significant milestone in its overseas exploration portfolio and aligns with its strategy of expanding its international footprint.
For India, the discovery is significant because it comes at a time when national oil companies are trying to expand overseas upstream assets to strengthen long-term energy security.
India remains heavily dependent on imported crude oil and natural gas, making overseas exploration and production assets an important part of its supply diversification strategy.
The ministry said the discovery reflects the growing global footprint of Indian energy companies, the importance of strategic international alliances and India’s effort to strengthen national energy security through overseas asset acquisition by national oil companies.
