Project Profile
Location: Murzuq, Libya
Value: US$200 Million
EPSA was signed between NOC and TPOC on December 10th, 2005. Minimum exploration commitment for Block 147/3-4 covering an area of 2,783 km2 was the drilling of two exploration wells and seismic data acquisition during the five years of exploration period. 573 km 2D and 352 km2 3D seismic data acquisition studies were realized in 2007.
First oil discovery was realized by drilling of A1-147/3 well in 2009. In 2010, 11 exploration wells have been drilled and oil discovery announcement was declared for 7 of them. The exploration period which ended on December 10th, 2010 was extended to June 10th, 2012 by NOC.
TPAO expectations are high for the wells to be drilled in 2011 following the stabilization of political conditions in the country.
Operators:
TPAO (Turkish National Oil Company)