Repsol Discusses Exploration Plans in Libya

Platts reports that the chairman of Libya’s National Oil Corporation (NOC) and held a meeting with a senior delegation from Spain’s Repsol to discuss the company’s exploration and production plans in Libya.

Repsol’s equity share of oil output from its Libyan concessions amounted to 14.07 million barrels of crude oil in 2012, and it accounts for 13 percent of total production by NOC’s foreign joint venture partners.

It has nine blocks in Libya, of which seven are exploration blocks, and it made an oil discovery in block NC-115 in January 2011, just before the start of the revolution; Repsol is operator of the El Sharara oil field, located in the same block.

The company’s two major blocks in Libya, NC-115 and NC-186 in the Murzuq Basin, were producing 360,000 bpd before the crisis and are operated through Akakus Oil Operations, a joint venture with NOC.

Repsol’s partners in the concessions are Austria’s OMV, France’s Total and Norway’s Statoil.

(Source: Platts)

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