Verenex Makes Second Libyan Discovery

Ghadames Basin, Libya
(Click to Enlarge)
The National Oil Corporation of Libya reports that, Verenex, a party with NOC in an EPSA Agreement through the first Public Bid Round, (NOC share: 86.3% - Verenex share: 13.7%), has made a second oil discovery with the wildcat well (B1-47/2) in Area 47 in the Ghadames Basin, around 600 kms south of Tripoli.

The well was tested in five formations containing crude oil and the average daily production upon testing reached 2414 barrels on a 1/2" choke from the lower AKAKUS formation, which is at a depth of between 1128 feet and 9500 feet 8400.

More delineation testing wells will have to be drilled in order to determine the overall reserves, as well as the recoverable reserves.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
College Intern Job
Expertise: Geoscientist|Student / Recent Grad
Location: Houston, TX
Asset Disposal Specialist
Expertise: Asset Management|Energy / Commodity Trading
Location: Crosby, TX
Robotics and Automation Software Engineer IV
Expertise: Electrical Engineering|IT - Software Development|Software Specialist
Location: Houston, TX
search for more jobs

Brent Crude Oil : $51.66/BBL 2.01%
Light Crude Oil : $47.37/BBL 2.35%
Natural Gas : $2.96/MMBtu 2.42%
Updated in last 24 hours