OT: OMV Says Makes Big Oil Find in Libya
VIENNA, May 17 (Reuters) - Austrian oil and gas group OMV said on Thursday it and its partners had made another significant oil discovery in Libya.
The column in the Hawaz sandstone formation was found at well A-2, the third well drilled in block NC-186, and has flow rates of up to 2,670 barrels of oil per day with a one inch choke on natural flow, OMV said.
Spain's Repsol is the operator for the exploration blocks NC-186, NC-187 and NC-190 in the Murzuk Basin on behalf of a group of four European companies including OMV, France's TotalFinaElf and Norway's Saga Petroleum.
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Repsol-YPF Confirms New Oil Find in Libya
By Jonathan House
MADRID, May 17 (Dow Jones Newswires) - Spanish-Argentine oil and energy group Repsol-YPF (REP) Thursday said it has confirmed a new oil find in Libya.
The company said it has finished drilling oil well A2 in the field NC-186 in the Murzuq river basin, 800 kilometers south of Tripoli.
The NC-186 field covers 4,300 square km.
A2 is the third well drilled by Repsol in the NC-186 field, and in production tests, it produced an oil flow of 2,670 barrels a day.
Repsol participates in a consortium with Libya's National Oil Co (O.NOI), Austrian oil company OMV AG (R.OMV), TotalFinaElf (TOT) and Norway's Saga Petroleum Mabruk. Together, the companies are developing three oil fields in the Murzuq river basin: NC-186, NC-187 and NC-190.
The consortium started operating the NC-186 and NC-187 oil fields in May 1998, and the NC-190 field in August 2000. |
