Verenex in eighth Ghadames find

Canadian energy company Verenex has made its eighth oil discovery in the Ghadames basin in Libya, the north African country’s National Oil Corporation (NOC) said.

The discovery was in wildcat exploration well C1-47/02a, 180 kilometres southwest of the capital Tripoli, NOC said in a statement on its website wrote Reuters.

The flow was through a choke size of 32/64ths of an inch, with oil flowing at 1739 barrels per day from a depth of 8,312 feet, the statement added.

Verenex won a permit to explore the area in partnership with NOC at an international oil exploration bid round in 2005.

Verenex and partner PT Medco Energi Internasional share a 13.7% interest in the licence in a production sharing agreement with NOC, which holds the remaining.

(Upstream Online)


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