Up to 45 million recoverable barrels at Issar
Libya – Austrian energy company OMV said the Issar oil discovery in the Sirte Basin supports its exploration and production growth strategy in Libya, noting that total recoverable resources are estimated at up to 45 million barrels.
Expected output and existing infrastructure
A company report followed and translated by Al-Marsad said OMV and the National Oil Corporation (NOC) in Tripoli confirm the commercial viability of the discovery, with total field production capacity expected to reach about 6,000 barrels a day once fully developed. Proximity to existing infrastructure, it added, could speed development and lower its cost, reinforcing the company’s long-term commitment to working in Libya.
Long-term partnership
Berislav Gašo, OMV’s Executive Vice President for Energy, described the Issar discovery as an important milestone for the company and its NOC partners and as evidence of Libya’s potential and the value of long-term partnerships and technical excellence. He stressed the importance of strategic cooperation in securing energy supplies, expressing pride in what has been achieved and looking ahead to the next phase in Libya.
