Spain's energy giant Repsol YPF on Monday said it had found a new oil well with estimated production capacity of 4,650 bpd in the Sahara Desert some 800 miles south of the Libyan capital Tripoli.
Repsol made the find at block NC 186 "in the prolific basin of Murzuq", 800 kilometres (500 miles) south of Tripoli in the Sahara Desert and where there is "preliminary production of 4,650 barrels per day (bpd),"Spain's biggest energy group said in a statement to the Madrid stock exchange.
Exploration rights to the zone are shared between Repsol (32 percent), the Libyan National Oil Company (NOC), Total of France, OMV of Austria and Norway's Hydro.
Repsol said the find was discovered just 16 kilometres to the north of the last find in the same block at the start of October.
"Repsol YPF is the main operator after the national firm NOC," the company added, dubbing Libya "one of the principal countries within the group's growth strategy.
As of 2005, Repsol is pursuing a four-year strategic plan aimed at making "exploration and production" its key growth areas.
Comments
Comments are closed for this article.