RWE Dea Spuds First Exploration Well in Libya

RWE Dea AG has commenced drilling operations in Libya, marking a further milestone in RWE Dea's activities in North Africa.

Drilling has commenced on exploration well A1-NC 193, the first out of a 10 well minimum license commitment. The well is located in Concession NC 193 in the Sirte Basin around 500 kilometers south east of Tripoli. For executing the 10 well drilling program, a contract has been signed with the Libyan drilling contractor ADWOC for the ADWOC Rig 2.

Prior to drilling, RWE Dea completed extensive evaluation work of the expected geological structures in Libya. In addition to a 2D seismic campaign over 2,400 kilometers, 2,392 square kilometers of 3D seismic was acquired. Further geological information was gained from a geochemistry survey where 2,200 samples were taken and evaluated.

"The concession NC 193 is valued to be highly prospective. We hope that with the start of drilling activities, we will be able to tap interesting oil and also gas potential," commented Thomas Rappuhn, Board member at RWE Dea AG responsible for operations.

RWE Dea has been active in Libya since 2003. At the end of May 2003, RWE Dea North Africa/Middle East GmbH and the Libyan National Oil Corporation (NOC) signed a contract in Tripoli for the joint search for and production of hydrocarbons in six blocks over a total area of 30,270 square kilometers. RWE Dea is the operator in these blocks and holds a 100 percent share. The licenses are located in the Sirte Basin (3 blocks), the Cyrenaica Basin (2 blocks) and the Kufra Basin (1 block).