EnergyReader · 2026-08-07 18:00

Libya and NOC Push Toward 2 Million Bpd as Essar Discovery Declared Commercial

By EnergyReader Newsroom · August 7, 2026

Libya's National Oil Corporation and Austria's OMV declared the Essar oil discovery commercially viable in July 2026, adding 195 million barrels of estimated reserves across the upper and lower Sabil reservoirs to a country that is already producing at its highest rate in more than a decade. Expected initial capacity from Essar sits at around 5,000 barrels per day — modest on its own, but the announcement is the latest signal that NOC is moving to validate assets that sat dormant through years of political instability.

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