Thursday, 2 December 2010
Libya: TPOC finds hydrocarbons in Murzuq basin
Turkish Petroleum Overseas Company (TPOC) has made a discovery in Libya's Murzuq basin while drilling the F1 147/03 new field wildcat well. The well F1-147/03, drilled on Area 147 in Block 03 to a total depth of 8,226 ft, encountered hydrocarbons in the Memouniat Formation. The well encountered 115 ft of net pay and flowed at a rate of 1,032 b/d of oil during testing.
The new well is TPOC's forth discovery in Area 147 Block 03, which was awarded by Libya's National Oil Corp (NOC) in December 2005. TPOC drilled the well as operator under an EPSA agreement with NOC. The partners are NOC Libya 90.3 per cent and TPOC 9.7 per cent.
For more news and expert analysis about Libya, please see Libya Focus and Libya Politics & Security.