Tag Archives | Ghadames Basin

BP takes $600m Hit on Libya Operations

In its results for the second quarter of 2015, BP announced that its ‘Upstream’ segment incurred around $600 million of exploration write-offs and other costs related to the company’s activities in Libya. BP said the losses were “primarily due to circumstances in the country“. Last year, the company dropped plans to explore in the Ghadames […]

Medco Energi Discovers Oil and Gas

Indonesia’s PT Medco Energi Internasional Tbk, through its subsidiaries PT Medco E&P Indonesia (Medco E&P) and Medco International Venture Limited (MIVL), reported on Monday that it has successfully explored and discovered additional oil and gas at the O2 well in Area 47, Libya. The O2 well was spudded on 23rd May and drilled to a […]

Gas Discovery in Ghadames Basin

The National Oil Corporation (NOC) has announced that Sonatrach (SIPEX) Libya (Operator), Oil India, and Indian Oil report initial information concerning exploration well C1-96/01 drilled in contract area 95/96 in Ghadames Basin. The well is located approximately 650 km Southwest of Tripoli and 70 km South of El-Wafa Field. The initial production test result from […]

BP Drops Onshore Exploration Plans

BP has dropped plans to explore in Libya’s Ghadames basin because of security concerns. In its annual report, the company issued the following statement: “In Libya, BP is in partnership with the Libyan Investment Authority (LIA) to explore acreage in the onshore Ghadames and offshore Sirt basins, covered under the exploration and production-sharing agreement (EPSA) […]

New Discovery in Ghadames Basin

The National Oil Corporation (NOC) has announced that the Arabian Gulf Oil Company (AGOCO), wholly owned by NOC , reports that it has drilled the G1-NC4 New Field Wildcat well to a total depth of 10,600 feet. The well is in Ghadames Basin located approximately 250 km south of Tripoli. The initial production testing rates […]

BP to “Give Up Control” of Libya Project

BP is reported to be in talks to relinquish control of a major oil and natural-gas project in Libya. The Wall Street Journal says the company is negotiating a deal with the National Oil Corporation (NOC) to transfer a stake in its two Ghadames blocks to the NOC subsidiary Arabian Gulf Oil Company (AGOCO), and […]

New Gas Discovery in Ghadames Basin

The National Oil Corporation (NOC) and its operating partner, Sonatrach (SIPEX) Libya, together with Oil India and Indian Oil, have discovered gas at contract area 95/96 in the Ghadames Basin. The well is located approximately 800 km southwest of Tripoli and 120 km south of El-Wafa Field. The initial production test result from the Ordovician Mamouniyat Formation […]

Technical Mtg Between NOC and BP

A technical meeting was held on Thursday at the headsquarter of the National Oil Corporation (NOC) between the NOC and BP. The meeting was attended by Mr Bashir Garea, NOC exploration Department Manager, and by the department’s and technical staff; and from BP by Mr Richard Woodfine, VP Exploration North Africa; Mr Nick Dendy, Commercial Director […]