Oil India and IOCL mark 5th discovery in Ghadames Basin
Business
Oil India Limited (OIL) just found oil and gas in Libya's Ghadames Basin, teaming up with Indian Oil Corporation (IOCL) on the project.
This marks the fifth discovery in the area, giving a boost to their international presence.
Block pending commercial viability check
The new find sits in a massive 6,630-square-kilometer block where five out of eight planned wells have already been drilled.
With global energy supplies facing disruptions lately, this discovery could help strengthen India's energy security and support its push to secure resources abroad.
Next up: checking if the find is commercially viable before any big moves forward.