OMV, the integrated, international oil and gas company, and its partners have discovered oil in Libya. The successful exploration has been made in the Murzuq Basin, 800 km south of the capital Tripoli.
Jaap Huijskes, OMV Executive Board Member responsible for Exploration and Production said: “This discovery in Libya confirms the potential of the country for OMV’s upstream activities.”
First oil found since 2011
Repsol, the operator of exploration block NC115, and partners OMV and Total will proceed with further drilling in the area. The drilling campaign started in May 2013 and is expected to last until the end of 2015. The new discovery is the first oil found in Libya by OMV and its partners since the revolution in 2011.OMV has been present in Libya since 1975 and started production in 1985. In 2012 the company produced 29 500 boe/d in Libya.
- Contract area: 129/130 (NC115).
- Partners: 40% Repsol, 30% OMV, 30% Total.
- Total well depth: 6024 ft (1836 m).
- Oil specifications: 39° API at a rate of 513 boe/d.
- Area of block NC115: 4400 km2.
Oil and gas activies
With Group sales of €42.65 billion and a workforce of around 29 000 employees in 2012, OMV Aktiengesellschaft is Austria’s largest listed industrial company. In exploration and production, OMV is active in two core countries Romania and Austria and holds a balanced international portfolio with a production of around 303 000 boe/d in 2012. In gas and power, OMV sold approximately 437 TWh of gas in 2012.
In Austria, OMV operates a 2000 km long gas pipeline network with a marketed capacity of around 103 billion m3 in 2012. In refining and marketing, OMV has an annual refining capacity of 22 million t and as of the end of 2012 approximately 4400 filling stations in 13 countries including Turkey.
Adapted from press release by Cecilia Rehn
Read the article online at: https://www.oilfieldtechnology.com/exploration/21102013/international_oil_and_gas_company_omv_and_its_partners_have_discovered_oil_in_libya/