Libya Ships First-Ever Cargo From Long-Stalled Chadar Oil Field [Yahoo! Finance]
BP p.l.c. (BP)
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Source: Yahoo! Finance
Production at the field started in January this year from five wells, Reuters reported, citing the company, which is a subsidiary of the National Oil Corporation. When production started, it ran at rates of 1,500 barrels of crude daily plus 7.5 million cubic feet of associated gas, Zallaf said in January. The Chadar field is located in the prolific Sirte Basin and was discovered way back in 1968 by Mobil. The national Oil Corporation set up Zallaf in 2017 specifically to develop oil fields that had been discovered but had not moved on to production. The news about the export cargo comes days after another subsidiary of the national Oil Corporation announced a new discovery in the northwestern part of Libya. The discovery was made in well H1-NC4, with daily production estimated at about 4,675 barrels per day of crude oil, and approximately 2 million cubic feet of gas, NOC said last week. A week earlier, the NOC announced another discovery, in the Sirte Basin, made by the local s
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