New Natural Gas Discovery Made in Libya

Repsol YPF in conjunction with Woodside Petroleum Ltd. reports that the C1-NC210 exploration well, drilled by Woodside, in NC210 in Libya's Murzuq Basin, has reached a total depth of 808 meters.

The well is located approximately 1000km south of Tripoli, and 150 km south of the producing Al Wafa Gas Field.

Wireline log data indicates the potential for several separate hydrocarbon-bearing zones. An initial production test of the Awaynat Wanin Formation confirmed the presence of a gas column and flowed 5.7 million standard cubic feet of gas per day (MMscfd) through a 72/64 inch choke. The Absolute Open Flow is calculated to be 10.7 MMscfd.

A production test of the Mrar M7 reservoir confirmed the presence of a gas column and flowed 5.8 million standard cubic feet of gas per day (MMscfd) through a 72/64 inch choke. The Absolute Open Flow is calculated to be 13.0 MMscfd.

Repsol YPF, as a joint venture partner with Woodside Energy (N.A.) Ltd., the operator, is drilling the well under an Exploration and Production Sharing Agreement with the National Oil Corporation Libya.

Participation Interests in the Exploration and Production Sharing Agreement and the associated joint venture are Woodside Energy (N.A.) Ltd as operator with 45%; Repsol Exploracion Murzuq S.A. with 35% and Hellenic Petroleum with 20%.

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