RWE Dea has made a sixth and seventh discovery in the Libyan Sirte Basin, it has emerged.

Two exploration wells in the concession NC193 found oil-bearing reservoirs.

Both new finds are situated in the Dahra Formation, with the F1-NC193 well located in the Upper Dahra Formation.

The first well, drilled by the Nabors F16 rig, tested oil at a rate of 704 barrels per day.

Drilled by the Ensign-45 rig, the second well tested at a rate of 439 barrels per day.

Plans to drill further appraisal wells during the remainder of this year were announced by the company to demarcate the cluster of five discoveries in the NC193 concession.

The company wants to bring the discoveries on stream as soon as possible.

In recent oil news, the Libyan National Oil Corporation chairman Shukri Ghanem stated that the oil market was oversupplied.

Mr Ghanem commented: "Anyone that is overdoing their quota should respect it."

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