The Libyan National Oil Corporation (NOC) owned Arabian Gulf Oil Company (AGOCO) reported on 9 March the discovery of the ZZ-001-047 oil and gas field within its Sirte Basin 047 block. AGOCO drilled ZZ-001-47 in 2014, and it was since then waiting for a production test. The test was finally run between December 2019 and early March 2020 with a flow rate of up to 400 bo/d and 68,000 scfg/d.  AGOCO operates 047 block in central Sirte Basin with 100% of interest. The block hosts 16 fields of which five were producing before the stoppage of production in January 2020 (see article). All producing fields are connected by several oil and one gas pipeline to the Marsa El Brega export port.  IHS Markit estimates approximately 4 MMbbl oil recoverable and 1,000 MMscf gas recoverable reserves at ZZ-001-47 field, out of total 570 MMbbl of oil and 280,000 MMscf of gas recoverable reserves in the block. Main reservoirs in this Sirte region are the Upper-Middle Lidam dolomite and the Paleocene Bedaa limestone formations.
Libya, 047