German RWE Dea has been awarded concession 58 in the Cyrenaica plateau in the latest licencing round in Libya. The agreement for the new con-cession was signed at the headquarters of the Libyan state-owned National Oil Corporation (NOC), in Tripoli on January 23, 2008.
Concession 58 is located roughly 240 kilometers east of the city of Benghazi and is subdivided into four partial blocks comprising a total area of 10,289 square kilometers. RWE Dea has been awarded 100 percent of the concession and is the operator. As a minimum commitment, the work program for the following five years comprises the acquisition of 4,600 kilometers of 2D seismic data and the drilling of two exploratory wells with a view to examining the gas po-tential in the area. In some wells that were drilled in the region of concession 58 in the 1960s, good gas potential was already proved to exist.
RWE Dea has been engaged as an operator in Libya since June 2003, in six 100 percent-owned concessions. The concessions, totalling more than 30,000 square kilometers are lo-cated in the Sirte basin, on the Cyrenaica plateau and in the Kufra basin. In the course of ex-ploration activities carried out to date, four oil discoveries have already been made in conces-sions NC193 and NC195 in the Sirte basin. Additional studies are under way on confirming the reserves discovered and developing concepts for commercially viable production. RWE Dea is currently utilising four drilling rigs in Libya.
The new agreement for concession 58 will give RWE Dea further opportunity to extend its stra-tegic position in Libya and to continue its long-term cooperation with the NOC in the field of exploration and production of hydrocarbons.
Contacts:
Derek Mösche, Press Spokesman
Telephone: +49(0)40 – 63 75 2670
Mobile: +49(0)162 – 273 2670
Carolin Reese, Press Officer
Telephone: +49(0)40 – 63 75 2484
Mobile: +49(0)162 – 273 2484
Background information
RWE Dea AG, headquartered in Hamburg, is an international company operating in the field of exploration and production of natural gas and petroleum. The company deploys state-of-the-art drilling and production technologies and puts its many years’ experience acquired to good use in its activities. RWE Dea has set new standards in the fields of safety and environmental protection.
RWE Dea has stakes in production facilities and concessions in Germany, the UK, Norway, Denmark and Egypt and holds exploration concessions in Algeria, Libya and Poland. More-over, in Germany RWE Dea also operates large subterranean storage facilities for natural gas. RWE Dea is part of the RWE Group, one of Europe’s largest energy utilities.
Posted by Aquila Financial on Tuesday, January 29, 2008 09:17
Location Hamburg/Tripoli
Category Company News Release
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