Libya Makes Oil Discoveries With Sonatrach in Ghadames Basin

Libya, holder of Africa’s largest crude reserves, made an oil and natural gas discovery in the Ghadames basin southwest of Tripoli, according to its state-run oil company.

Sonatrach Group, Algeria’s state-run energy company, was involved in locating the deposits, Libya’s National Oil Corp. said on its website.

The discovery consists of one oil field and a gas deposit situated about 600 kilometers southwest of the capital, the Libyan News Agency reported, citing sources at the country’s oil ministry. The oil field has a capacity of 8,200 barrels a day, it reported.

-- Editors: Raj Rajendran, Rachel Graham

To contact the reporters on this story: Saleh Sarar in Dubai at ssarar@bloomberg.net; Ola Galal in Cairo at ogalal@bloomberg.net

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