Money and BusinessNational

NOC: Promising results from oil well in Sirte Basin following appraisal

The Address | Benghazi – Libya

SIRTE – National Oil Corporation (NOC) and its subsidiary Arabian Gulf Oil Company (AGOCO) announce promising test results from appraisal well Y3-51 in the Sirte Basin, with a potential production capacity of nearly 8,500 oil barrels per day (bpd) and 1.82 million cubic feet of gas.

The well, located approximately 30 kilometres north-east of the Nafoura oil field, reached a total depth of 11,300 feet in January 2018, with more elaborate testing conducted on March 24, 2019, NOC said in a statement.

well Y3-51 was drilled to delineate structure (Y) to the north-west of discovery well Y1-51, drilled in 2000, with promising test results of 3,892 bpd. Thereafter, well Y2-51 was drilled in 2003, yet results were not encouraging. AGOCO is currently drilling appraisal well Y4-51, the statement said.

NOC and AGOCO are working on developing these fields and increasing production. Full exploration of structure (Y) is a strategic priority, as it is expected to add 38 million bpd of oil, and 12 billion cubic feet (bcf) of gas, with recoverable reserves of 11 million barrels of oil, and 10 bcf of gas, according to NOC.

Tags

Related Articles

Close