Overview
- The Indian partners disclosed Monday via a stock exchange filing that the sixth well, A1-96/02, was recognized by Libya’s National Oil Corporation as a new discovery.
- During testing, the well produced 13 million cubic feet of gas per day and 327 barrels of condensate per day from the Awynat Wanin and Awyn Kaza formations, the petroleum ministry said Tuesday.
- Indian Oil Corporation and Oil India each hold a 25% stake in Area 95/96, where operator SIPEX of Sonatrach is leading an eight‑well exploration program across roughly 6,600 square kilometers.
- The consortium will now run appraisal work to map the reservoir, firm up resource estimates, and judge whether the find can be developed commercially.
- Following the ministry’s note Tuesday, Oil India shares rose more than 4% intraday on the BSE, while Indian Oil traded flat.