– Successful exploration well in the offshore Sirte Basin
– A natural flow rate of up to 1,264 bbl/d was achieved during the test
– OMV strengthens its position in the North Africa core region

OMV Aktiengesellschaft announces the discovery and successful testing of oil in the A1-NC202 exploration well in Block NC202. The well is located in the offshore Sirte Basin, 40 km southwest of Benghazi. The well reached a total depth of 15,815 ft (4,820m) and tested a natural flow rate of up to 1,264 bbl/d from the Eocene Dernah Formation. This is OMV’s first oil discovery in offshore Libya.

Kurt Wagner, OMV General Manager in Libya stated: ”I am very pleased with this new discovery – OMV’s first offshore discovery in Libya.”

Block NC202 forms part of a package of exploration blocks including the neighbouring offshore block NC201, NC199 (Cyrenaica), NC200 (Murzuq Basin), NC203 and NC204 (Kufra Basin) which were awarded to Repsol and OMV in June 2003. OMV holds a 14% interest in this package. The other partners are the National Oil Corporation of Libya (65%) and Repsol which acts as operator and holds the remaining 21%.

OMV in Libya
OMV made a major step in Libya in 1985, when it acquired 25% of Occidental Petroleum’s producing assets. Since then OMV has considerably expanded its operations by entering into an agreement in 1994 with the Libyan Oil Corporation (NOC), Repsol YPF (Spain) and Total (France) for the development and production of the giant Sharara field which produces around 200,000 bbl/d. In 1997, NC186 and NC187 were acquired, followed by NC190 in 1999. In 2003, OMV and Repsol were awarded Exploration Package 1 encompassing 6 blocks with a total size of approx. 70,000 km². In 2008, OMV signed an agreement with NOC revising and extending several of its existing petroleum contracts to 2032 which includes major re-developments and exploration programs in the prolific Sirte and Murzuq Basin. OMV’s production in Libya amounted to 33,900 bbl/d in 2008.