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New oil and gas fields found in Libya

Oil&Gas Materials 3 September 2012 13:30 (UTC +04:00)
New oil and gas fields have been found on the south-west of the Libyan capital, Tripoli, the National Oil Company reported.

Azerbaijan, Baku, Sept 3 /Trend R.Hafizoglu/

New oil and gas fields have been found on the south-west of the Libyan capital, Tripoli, the National Oil Company reported.

Oil production in Libya amounted to 1.55 million barrels per day in May 2012, which is a record in the aftermath of the revolution in the country in February 2011.

Oil exports from Libya amounted to 6.605 million barrels a week.

Libya is the eighth largest producer of oil producer among the 12 state members of the Organisation of Petroleum Exporting Countries (OPEC) and the third in Africa after Nigeria and Angola. The main importer of Libyan oil is Italy, followed by Germany, France and Spain.

Libya's proven oil reserves amount to 47 billion barrels. Libya was producing 1.6 million barrels of oil per day before the revolution.

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