The project centers on the B1-106/4 well, which holds an estimated 195 million barrels of oil across the upper and lower Sabil reservoirs. Officials anticipate a production capacity of 5,000 barrels per day. Because the site is situated near existing surface infrastructure, the Zueitina Oil Operations Company expects to accelerate development and bring the field online ahead of schedule.
Libya and OMV Confirm Commercial Viability of Essar Oil Field
Libya’s National Oil Corporation and Austria’s OMV have officially declared the Essar discovery commercially viable, marking a strategic milestone in the country's push to revitalize its energy sector through international partnerships after years of systemic instability and civil conflict.
This development follows a broader campaign by the state-run firm to lure global energy majors back into Libyan upstream operations. Last month, authorities finalized exploration and production-sharing agreements with a consortium including Eni, Repsol, QatarEnergy, Turkish Petroleum, and MOL. With national output currently reaching 1.4 million barrels per day—the highest level in over a decade—the government is aggressively pursuing a target of 1.6 million barrels daily by the end of this year.
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