Indian Oil Consortium Strikes Oil in Libya: Fresh Discovery Boosts India’s Global Energy Push
Moneylife Digital Team 28 April 2026
Indian Oil Corporation Ltd (Indian Oil) has announced a fresh oil and gas discovery in Libya, marking a significant milestone in its overseas exploration portfolio and strengthening India’s global energy ambitions.
 
The discovery has been made in the onshore Block Area 95/96 located in the hydrocarbon-rich Ghadames Basin in south-western Libya, where Indian Oil holds a 25% participating interest as part of a consortium with Oil India Ltd.
 
The exploration block, spanning around 6,600sqkm (square kilometres), is operated by Sonatrach International Petroleum Exploration and Production Corporation. The latest find comes from the sixth exploratory well drilled under the consortium’s ongoing exploration programme which includes a total of eight planned wells.
 
According to the regulatory filing by Indian Oil, the well has been formally recognised as a new hydrocarbon discovery by Libya’s National Oil Corporation following initial testing and evaluation. The development adds to earlier findings in the block which had already indicated strong geological potential through multiple oil and gas discoveries.
 
The Union ministry of petroleum and natural gas, in a post on X, congratulated the consortium on the discovery, highlighting its significance for India’s energy strategy. It noted that the well was drilled to a depth of 8,440 feet and yielded production of about 13mncf (million cubic feet) of gas along with 327 barrels of condensate per day during testing from key formations.
 
The ministry says the discovery underscores the expanding global footprint of Indian energy companies and the importance of international collaborations in securing energy resources. It also emphasised that such overseas ventures play a crucial role in strengthening India’s energy security by diversifying supply sources.
 
 
Indian Oil says detailed appraisal and evaluation work will now be undertaken to assess the reservoir characteristics and determine the commercial viability of the find. The results will guide future development planning for the block.
 
The company described the discovery as a key step in its strategy to expand its upstream presence internationally through selective investments in high-potential assets, leveraging partnerships with global operators.
 
The Ghadames Basin is considered one of Libya’s most prolific hydrocarbon regions, and the latest discovery is expected to enhance the value of the block while reinforcing confidence in its long-term production prospects.
 
The development comes at a time when India is increasingly focusing on overseas energy assets to secure supplies amid global uncertainties, with public sector companies playing a central role in this effort.
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