Repsol has reported an oil discovery in Libya. The company has drilled A1-NC202 New Field Wildcat well in Offshore Sirte Basin, approximately 15 km West from the shore and 40 Km southwest of Benghazi City. The well drilled to a total depth of about 15,815 feet in water depth of about 50 meters
The initial production testing established a flow of 1,264 b/d of 26-degree API oil and 580,000 cf/d of natural gas through a half-inch choke. The Dernah formation was tested at an interval between 4,484 feet (1,367 m) and 4,442 feet.
This well represents the first discovery in block NC202, which was awarded by NOC in November 2003.
Repsol Exploration Murzuq drilled the well as an operator under an EPSA agreement with NOC of the Great Socialist Libyan Arab Jamahiriya with interests distributed as follows:
First Party Interest (NOC Libya) 65%
Second Party Members share Interests as follows:
Repsol Exploration Murzuq S.A. 21% (Operator).
OMV Oil and Gas Exploration GmbH 14%.
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