NOC announced on 07/06/2010 that TPOC being partners in an Exploration and Sharing agreement, report initial information concerning the exploration well C1-147/03 New Field Wildcat in Murzuq Basin. The well is located approximately 120 km Southeast of El-Sharara Oil Field.
The well C1-147/03, drilled in Murzuq Basin area 147 block # 03 total depth 8,328 feet , encountered hydrocarbons in Memouniat formation with a net pay 143 feet.
The initial production testing from Memouniat established an oil flow as follows :
The well encountered net pay totaling 143 ft from the interval between 7,967-8,110 ft. Workover and production test operations have been completed in the C1-147/3 exploration well and the well flowed at a rate of 1,845 bpd of oil from the Ordovician Formation.
TPOC drilled the well as an operator under an EPSA agreement with NOC with interest distributed as follows: First party inerest (NOC Libya): 90.3 %, second party inerest (TPOC): 9.7% (Operator).
