Libya's NOC: Repsol's Discovery Announcement 'Premature'

Shokri Ghanem, Chairman of Libya's National Oil Corp. (NOC), has stated that Repsol YPF has made an untimely announcement concerning its new discovery in the Area NC186, located in the North African country's Murzuq Basin.

Although Repsol has made a discovery in the region, the quantity and size of the reservoir has yet to be determined and more tests and studies have to be completed to evaluate it. Thus NOC, at the present time, does not intend to confirm this discovery and considers the announcement by Repsol to be premature.