KEYFACT Energy
The National Oil Corporation (NOC) and Repsol Libya Branch (REMSA) have announced a new oil discovery within their contractual obligations with NOC. The find follows the drilling of the exploratory well “J1-4/130” in Contract Area “131/130” in the Murzuq Basin, about 800 km south of Tripoli. The well reached a final depth of 4,325 feet and is producing an average of 763 barrels of oil per day from the Mummiyat Formation.
This well is the fifth of the company’s eight contractual commitments under the Exploration and Production Sharing Agreement (EPSA) signed between the NOC and REMSA in 2008.
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