Repsol Libya Branch discovers oil in Libya’s Murzuq basin
Key Highlights
- Repsol Libya Branch made a new oil discovery about 800 km south of Tripoli.
- An exploration well is producing about 763 bo/d from the Mummiyat formation.
Repsol Libya Branch (REMSA) and Libya's National Oil Corp. (NOC) discovered oil in Libya’s Murzuq basin, about 800 km south of Tripoli and 12 km from Sharara oil field.
The oil discovery follows the drilling of the exploratory well J1-4/130 in Contract Area 131/130. The well reached a final depth of 4,325 ft and is producing an average of 763 bo/d from the Mummiyat formation.
This well is the fifth of the company’s eight contractual commitments under the Exploration and Production Sharing Agreement (EPSA) signed between the NOC and REMSA in 2008.