OMV Makes Discovery in Libya

OMV and its joint venture partners have made a considerable oil discovery in the Murzuk Basin in Libya. Well tests showed a flowrate of up to 2,286 boe per day. Preliminary evaluations indicate that over 250 million barrels of reserves had been found at block NC-186, which is approximately 497 miles south of the Libyan capital Tripoli.

"The successes and the future work scheduled in the Murzuk Basin will help to reach the company's reserve targets of 400 million boe within the next two years," said Gerhard Roiss, in charge of exploration and production at OMV. Repsol operates the exploration blocks NC-186, NC-187 and NC-190 in the Sahara Desert together with OMV, TotalFinaElf and Saga Petroleum.