Russia's Tatneft discovers oil in Libya

MOSCOW Aug 25 (Reuters) - Russian mid-sized oil firm Tatneft (TATN3.MM) said on Tuesday it had successfully drilled a well on an oil block of Libya's Ghadames Basin, some 345 kilometres (214 miles) south of Tripoli.

It said the A1-82/04 well is producing some 400 barrels of oil per day after initial testing.

Tatneft was the first among Russian companies to make a foray into Libya's hydrocarbon market in 2005 when it won concession rights to work at Ghadames.

At the end of 2006 it won the biggest share of Libya's third post-sanctions international licensing round, and is currently working at four blocks along with National Oil Corporation (NOC) of Libya under production sharing agreements.

(Reporting by Vladimir Soldatkin; Editing by Peter Blackburn)