Libya’s Sirte Oil hits high-yield well at Al-Khair field

Libya’s state-owned National Oil Corporation (NOC) announced that its subsidiary, Sirte Oil Company for Production and Manufacturing of Oil and Gas, has completed a development well at the Al-Khair oilfield, Al Arabiya Business reported on June 18. 

The development aligns with the country's broader strategy to maximise crude reserves and hit targeted production yields.

Located in the prolific Sirte Basin, the Al-Khair oilfield initially commenced operations in 2021 with baseline production levels of 6,000 bpd. Hydrocarbon revenues remain the cornerstone of the Libyan economy, accounting for over 95% of its total output.

The new well boasts a natural flow rate of 3,209 barrels of oil per day (bpd) alongside 1.948mn  cubic feet of associated gas per day. Initial testing demonstrated a stable, natural flow without requiring artificial lift systems. The NOC noted that the drill reached its total planned depth of 9,050 feet, penetrating a reservoir thickness of 174 feet.

The testing phase confirmed high production capability, premium oil quality, and a zero water-cut rate. The NOC said the positive results will scale up overall capacity at the Al-Khair field. The utility said it aims to attract investment and raise production capacity to 2mn barrels per day from around 1.4mn bpd currently.

Libya’s oil production has faced several challenges in recent years due to political instability. Systemic institutional fragmentation and recurring battles in the country over central bank revenue distribution frequently trigger localised blockades, abruptly taking hundreds of thousands of barrels offline despite a baseline push toward record production levels.