OMV Aktiengesellschaft, the leading oil and gas group in Central Europe, announced two oil discoveries yielding high quality oil in Block NC 200 in the Murzuq Basin, 1,000 km south of the Libyan capital Tripoli.
The first discovery at well E1-NC 200 tested 589 barrels per day (bbl/d), the second discovery was encountered by well G1-NC 200. The well flowed 334 bbl/d. These are the first discoveries of commercial quantities of oil in this contract area. Appraisal of the discoveries is under way. The giant El Shararah oil field and Block NC 186, where already seven discoveries have been made in the recent years, are less than 100 km away.
Helmut Langanger, OMV Executive Board member responsible for Exploration and Production stated, “I am very pleased with these new discoveries. It confirms the potential of this exploration area and further strengthens our position in Libya which is the most important country of our Northern African E&P core region.”
Block NC 200 forms part of a package of exploration blocks including NC 201 and 202 (offshore), NC 199 (Cyrenaica) and NC 203 and NC 204 (Kufra Basin) which has been 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 as operator (21%).
OMV owns a balanced international E&P portfolio in 20 countries organized around six core regions, namely the Danube and Adriatic region, Northern Africa, Northwestern Europe, the Middle East, Australia/New Zealand and Russia/Caspian. OMV’s daily production volume is approximately 324,000 boe/d, and the company’s reserves are approximately 1.3 bn boe.