Spain-based oil and gas company Repsol has discovered light oil (40º API) in Libya’s Murzuq basin.
The company discovered oil in block NC115 in the Sahara desert, 800km south of Tripoli in the A1-129/02 well, which was drilled to a total depth of 1,836m and has produced good oil flows during initial testing.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
With a choke size of 32/64 inches and a perforated interval of 4,502ft to 4,522ft, the well flowed 528 barrels of oil per day in the Mamuniyat formation.
According to the company, the well has shown good reservoir properties and is the third of eight wells that it will drill in the block, covering 4,400km².
Upon obtaining good results, the company will continue with the exploratory campaign which began in 2013 and which will continue through 2015.
Accompanied by Austria’s OMV and Total of France, each with a 30% share, Repsol operates the block with a 40% stake.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataRepsol has stated that the exploration and production business is one of the key pillars of its growth strategy, supported by its specialists and technology.
Repsol carries out upstream and downstream activities globally. Other oil discoveries were also made by the company during 2013, in Brazil, Alaska (US) and Russia. Production was also brought from new fields in Brazil, Russia, Oklahoma (US) and Bolivia.
Image: Repsol discovered oil in block NC115 in the Sahara desert in A1-129/02 well. Photo: courtesy of Repsol.
