Red Sea Oil's Libyan venture marks success

Where RSO Found Oil in Libya [206,602 bytes] A group led by Red Sea Oil Corp. has found oil in Libya's prolific Sirte basin. On a 40-day test, B1-NC177 well flowed 728 b/d of 42° gravity oil. Mechanical problems hampered efforts to run an electrical pump in the well, but the company claims a sustainable production rate of 1,800-2,500 b/d is indicated for the development phase, with a pump installed. The five-test program in the Facha formation had a combined flow rate of 6,517 b/d.

March 16, 1998

2 min read

Where RSO Found Oil in Libya [206,602 bytes]

A group led by Red Sea Oil Corp. has found oil in Libya's prolific Sirte basin.

On a 40-day test, B1-NC177 well flowed 728 b/d of 42° gravity oil. Mechanical problems hampered efforts to run an electrical pump in the well, but the company claims a sustainable production rate of 1,800-2,500 b/d is indicated for the development phase, with a pump installed.

The five-test program in the Facha formation had a combined flow rate of 6,517 b/d.

An appraisal project, consisting of an infill seismic program and at least two appraisal wells in the third quarter, is under way. The appraisal also will test deeper structures not penetrated by B1-NC177.

Red Sea Oil plans a 1,600 km seismic survey in the third quarter to help delineate existing leads on trend with the En Naga field and to evaluate a 7,000 km area within Block NC177.

Red Sea Oil will tie production from the block into an existing pipeline infrastructure about 75 km from En Naga North field.

Interests in Block NC177 are Red Sea Oil 60% and Sands Petroleum AB 40%. Sands also owns more than 60% of Red Sea Oil.