By OGJ editors
HOUSTON, Feb. 28 -- ExxonMobil Corp. will shoot seismic surveys and drill an exploration well under a production-sharing agreement with National Oil Corp. (NOC) of Libya covering offshore Area 21.
NOC said ExxonMobil agreed to acquire 4,000 line-km of 2D seismic data and 2,000 sq km of 3D data under a $97 million work commitment. It also will fund training or scholarships during the exploration period and improve schools in Libya.
Area 21 encompasses four blocks covering a total of 2.5 million acres in the Sirte basin 110 miles offshore. It is adjacent to the east of Area 20, for which ExxonMobil also holds a production-sharing agreement (OGJ, Feb. 12, 2007, Newsletter).
