Statoil to shoot seismic survey on Libyan licenses

Statoil AS plans to shoot a 2,000 km, 2D seismic survey in the Kufra license in the southeastern part of Libya for the first time in the country under its work program for the two licenses it was awarded last year.

Mar 21st, 2007

Uchenna Izundu
International Editor

LONDON, Mar. 21 -- Statoil AS plans to shoot a 2,000 km, 2D seismic survey in the Kufra license in the southeastern part of Libya for the first time in the country under its work program for the two licenses it was awarded last year.

Statoil shares its Kufra 171 license on a 50-50 basis with BG Group and they plan to drill two exploration wells once they have finished processing the seismic data. The license spans 10,000 sq km in the desert.

Statoil also plans to shoot a 3,000 km, 2D seismic survey for its Cyrenaica 94 license in April. It has full ownership of the license and will drill one exploration well. The license lies in the north of Libya, near the Egyptian border.

Statoil said the desert areas are little-explored in relation to petroleum resources. A few wells have been drilled in the area, but that was in the 1960s and 70s.

During the second half of 2008, Statoil will drill the first exploration well in Libya.

Contact Uchenna Izundu at uchennai@pennwell.com

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