Repsol Makes High Quality Oil Discovery in Libya

A Repsol-led consortium of oil firms reported Monday that they had made a high-quality oil discovery onshore Libya.

The discovery well, drilled to a depth of 6,020 feet, found light oil (38-degree API) with very positive results from initial tests, Repsol said. The well flowed at 513 barrels of oil per day on a 32/64-inch choke.

The well is the third of eight wells that the consortium is drilling on block NC115, located in the Murzuq basin some 500 miles south of the capital Tripoli.

Repsol holds a 40-percent interest in the block, while Austria's OMV and France's Total each hold 30-percent stakes.

OMV Exploration and Production Director Jaap Huiskes commented in a company statement:

"This discovery in Libya confirms the potential of the country for OMV's upstream activities."

 



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