Russia’s Tatneft: Newly-discovered Libyan oil wells are promising

The Deputy CEO of the Russian oil producer – Tatneft -, Nurislam Syubaev, told TASS on the sidelines of the Russia-Africa summit that Tatneft had drilled exploration wells in Libya and the flow rate from some of them was good.

Tatneft announced that it was resuming exploration in Libya in October 2021.

“We have drilled exploration wells in line with the prospecting plan. We have gotten a good production rate from some of them. We are now doing cost efficiency calculations. If they are positive, we will move to the pilot development stage.” The executive said.

He added that they would certainly complete the estimates this year, and then they could understand whether or not to continue.


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