Repsol Announces Major Find in Libya

Repsol YPF has discovered a major oil field in Libya and has asked authorities for permission to develop the 474-million-barrel resource.

Repsol said the field, in the central southern Murzuq basin, was the biggest find in company history at 1.261 billion barrels of oil. A subsidiary of the joint venture between Repsol and National Oil Corp. of Libya, Repsol Exploracion Murzuq, is drawing up a 25-year plan for development of the site.

Repsol Chairman Antonio Brufau said the company's Libyan production would reach 450,000 barrels per day by 2010, up from 250,000 bpd currently (Agence France-Presse, Feb. 27).

Copyright 2007 Greenwire. All Rights Reserved. Visit Greenwire for a free trial.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Mudlogger / Wellsite Geologist
Expertise: Geologist|Mud Logging
Location: Midland, TX
 
Senior Petrophysicist
Expertise: Petrophysicist
Location: Houston, TX
 
Entry Level Geologist
Expertise: Geologist
Location: Blue Bell, PA
 
search for more jobs

Brent Crude Oil : $55.45/BBL 0.99%
Light Crude Oil : $52.37/BBL 1.20%
Natural Gas : $3.42/MMBtu 0.88%
Updated in last 24 hours