The Libyan National Oil Corporation announced a discovery of new oil in the Sirte Basin of Libya by German group for public utilities (R W I.). This is the fourth disclosure of the group since April last year.

The Corporation said in a statement published on its website that the tests showed that the rate of oil production amounted to 704 barrels per day.
It announced the first detection of an oil group in the Sirte Basin in 2007 in April and the second disclosure in September and the third in May.
The Libyan Corporation owns 68% and the German 32% of these discoveries .
It should be noted that Shukri Ghanem the head of the institution of the Libyan National Oil production announced last May that his country’s oil production will reach two million bpd in 2008 and 3 million by the year 2012.
The total production of Libyan oil from 1.8 million barrel per day in 2007, while the value of oil revenues for itself about 40 billion dollars.
Source: Reuters