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A New Oil Discovery Offshore Libya

Source: www.gulfoilandgas.com 4/10/2009, Location: Africa

NOC announces on 9/4/2009 that Repsol, in conjunction with OMV being the Second Party with the NOC of Libya in an EPSA agreement, reports that it has drilled A1-NC202 New Field Wildcat well in Offshore Sirte Basin. The well is located approximately 15 km West from the shore and 40 Km southwest of Benghazi City. The well drilled to a total depth of about 15,815 feet in water depth of about 50 meters.

The initial production testing established an oil flow as follows:
Formation: Dernah, Interval (ft): 4,442 4,484, Choke Size (Inch): 32/64, Oil Rat (bbls/d): 1,264 Gas Rate (mmscf/d): 0.58, Oil Gravity (API): 26.

This well represents the first discovery in block NC202, which was awarded by NOC in November 2003.

Repsol Exploration Murzuq drilled the well as an operator under an EPSA agreement with NOC of the Great Socialist Libyan Arab Jamahiriya with interests distributed as follows:
First Party Interest (NOC Libya) 65 %
Second Party Members share Interests as follows:
Repsol Exploration Murzuq S.A. 21% (Operator).
OMV Oil and Gas Exploration GmbH 14%.

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