Project Profile
Value: Undisclosed
Location: Libyan desert, 1000km south-east of Tripoli, Libya
Reserves: 2 million tons of oil and 227 million cubic metres of gas
Start-up Year: 1970
Concessions 96 and 97are two oil and gas concessions in the Libyan desert, 1000 km SE of Tripoli. Total output from the two concessions in 2010 amounted to 2 million tons of oil and gas condensate and 227 million cubic metres of gas.
In December 2007, following the completion of a share swap deal with BASF A.G., Gazprom obtained a 49% stake in the Libyan oil concessions C96 and C97 which belonged to Wintershall A.G. This is one of the oldest oil concessions in Libya. They were originally signed in 1966 for a period of 50 years and in 1997 were extended until 2026. Production commenced there in the 1970s. Due to the destabilisation of the situation in Libya, on 20th February 2011, the management of Wintershall AG decided to temporarily stop production on all fields in consultation with local authorities. Wintershall resumed production operations in October 2011. Output was resumed in small volumes - to the order of 20,000 barrels of oil per day which was targeted for the field’s own needs.
Operators:
Wintershall A.G: Operator with 51% interest
Gazprom: 49% interest