Libya Ships First-Ever Cargo From Long-Stalled Chadar Oil Field
Zallaf Oil and Gas, a Libyan company, has successfully shipped its first export cargo from the Chadar oil field, totaling 600,000 barrels. This milestone comes after the field’s production commenced in January this year from five wells, as reported by Reuters. Zallaf, a subsidiary of the National Oil Corporation, stated that initial production rates included 1,500 barrels of crude oil per day along with 7.5 million cubic feet of associated gas.
Situated in the Sirte Basin, the Chadar field was originally discovered by Mobil in 1968. In 2017, the National Oil Corporation established Zallaf with the specific purpose of developing oil fields that had been identified but had not yet been brought into production.
Recent developments in Libya’s oil and gas sector have been promising, with another subsidiary of the National Oil Corporation announcing a new discovery in the northwestern region of the country. Well H1-NC4 is estimated to produce approximately 4,675 barrels of crude oil per day, in addition to around 2 million cubic feet of gas on a daily basis.
Furthermore, a separate discovery was made in the Sirte Basin by the local subsidiary of Austria’s OMV, with production tests indicating an output of over 4,200 barrels of oil per day and expected gas production exceeding 2.6 million cubic feet daily.
The resurgence of international oil companies in Libya is evident, with major players such as BP, Shell, Eni, TotalEnergies, Exxon, and Chevron returning to the country. This renewed interest signifies an improving security environment post the civil war that plagued Libya for over a decade.
Austrian energy giant OMV resumed operations in Libya at the end of 2024, aligning with other Big Oil companies making a comeback. With the National Oil Corporation launching its first oil and gas tender in 18 years, a wave of opportunities has emerged for both existing and new exploration projects in the country.
The energy landscape in Libya is evolving rapidly, with significant discoveries and increased investment from international players. As the industry continues to grow, it is crucial to monitor these developments closely for their impact on the global oil market.
This article was crafted by Charles Kennedy for Oilprice.com, a leading source of energy news and analysis. For more insights and updates on the oil and gas industry, visit Oilprice.com.
