High quality light crude found in Libya
Posted: 20 February 2006
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Repsol YPF has made a new discovery of high quality light crude oil in the Murzuq basin, in Libya with a preliminary production of 2,300 barrels per day.
Repsol YPF is the main operator in Libya, second to the state-owned National Oil Company.
The oil was found 800 kilometres south of Tripoli, in the Sahara desert, and is near the two latest discoveries.
Repsol YPF is operator of this block, with a 32 per cent stake, in partnership with the Libyan National Oil Company and three European companies: OMV ( Austria), Total ( France) and Hydro ( Norway). The consortium led by Repsol YPF has made six other discoveries in this same block.
The discovery marks the seventh for OMV.
Helmut Langanger, OMV Executive Board member responsible for exploration and production said: “Our seventh significant discovery in Block NC186 confirms the success of our exploration activities in our international E&P core regions. This will further strengthen our position in Libya”.
Two out of the seven discovered fields in Block NC186 – the A and D fields – were brought on stream over the past two years, with current production of 48,000 barrels per day.
The seven discoveries add up to more than 500 million barrels of oil.
OMV’s total production in Libya is currently 27,500 bpd.
Posted by Editor Pipeline Magazine
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