Oil India Ltd

🇱🇾 Oil India Announces New Hydrocarbon Discovery in Libya's Area 95/96 Block

• Oil India Limited (OIL) announced a new hydrocarbon discovery in Libya's Area 95/96 Block

• OIL holds a 25% participating interest in consortium with Indian Oil Corporation Limited (IOCL)

• The Block covers approximately 6,630 sq. km in the Ghadames Basin

• Sixth well A1-96/02 resulted in oil and gas discovery

• Fifth discovery in the Block, with four previous discoveries made between 2012-2014

• National Oil Corporation (NOC) of Libya formally declared the well a discovery

• Further appraisal activities planned to assess resource potential and enable development