Tag Archives | Exploration

OMV Restarts Production; Increases Stakes in Libyan Fields

Austria’s OMV has announced that, as a result of the improvement in the political and security situation in Libya, it has successfully started up production at both the Sirte and Sharara oil fields. The Sharara fields are located in the Murzuq basin. In Q4/2016 OMV’s production from Libya amounted to approximately 3,000 bbl/d. OMV also […]

BP Reconsiders Libya Drilling Plans

Oil giant BP has said it is reconsidering plans to drill for oil in Libya, due to security concerns following the attack on a gas plant in Algeria in which a number of BP employees were killed. A BP spokesperson confirmed to Reuters: “We had expected to restart drilling at the end of the second […]

Sonde Resources Reaches Agreement on Gulf of Gabes

Canadian energy group Sonde Resources has reached agreement with the Joint Oil authority on terms for Sonde to enter the second phase of the exploration period on the Joint Oil block in the Gulf of Gabes offshore Libya and Tunisia. According to a report from Oil & Gas Journal, the agreement allows Sonde to defer […]

Libya May Seek New Oil Bids

Libya’s new Oil and Gas Minister, Dr. Abdulbari Alarusi [Al Arusi], has said the country could proceed with a new round of oil exploration and production agreements, but the priority for now is to maintain pre-war output levels. Speaking to Reuters, he said: “Our priority is to maintain the production at 1.5 million barrels per […]

Eni Restarts Exploration Drilling in Libya

Eni has announced that it has restarted its onshore exploration activities in Libya by drilling the A1-108/4 well in the Sirte Basin, located around 300km south of the city of Benghazi. The well, operated by the fully owned subsidiary Eni North Africa, will reach a total depth of 14,500 feet and will test a new […]

Repsol to Resume Oil Drilling in Libya

Spanish oil firm Repsol is reported to be making final preparations to resume drilling in Libya early next year. The company currently has rights to nine blocks, seven of which, totalling 16,185 km2, are exploratory; and two of which, totalling 1,566 km2, are in operation. It made a discovery at block NC-115 in January 2011, […]

BP to resume operations in Libya

BP is to resume exploration activities in Libya that it suspended because of last year’s uprising, re-starting a relationship which under ousted Libyan leader Muammar Gaddafi landed the firm in the centre of a political storm. BP’s return is a milestone in the recovery of Libya’s energy sector, though this was tempered by an announcement […]

Shell To Exit Libyan Oil, Gas Blocks

Royal Dutch Shell PLC on Monday said it was exiting its Libyan exploration blocks amid insecurity and harsh contracts, the first such move since Gadhafi’s overthrow. The Anglo-Dutch giant insisted it was still interested in the country, which holds Africa’s largest oil reserves. But the move casts a cloud on Libya’s oil recovery as Shell had […]