National Oil Corporation

Type	Price
Brent	123.00
Dubai	118.01
Urals	118.03
WTI (mid)	125.95
OPEC basket	116.93
09/05/2008

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Postgraduate Study Opportunities by Total E&P Libya Within the framework of the agreement between

Total E&P Libya and NOC regarding granting opportunities for overseas postgraduate studies by Total, to be carried out at Total’s account, interviews and tests were supervised and performed by a team of representatives from the French Petroleum Institute, Total E&P Libya and NOC’s Training Department for 51 Libyan graduates from the faculties of Petroleum Engineering, Geology & Geophysics, who had completed the qualifying program specifically designed for the above-mentioned specialities.

Co-operation with Singapore In light of enhancing relations between

Libya and Singapore, on 6^th May 2008, Dr. Shokri Ghanem, Chairman of NOC, welcomed to his office at NOC headquarters, H.E. Mr. Goh Chok Tong, Senior Minister of Singapore and his accompanying delegation. During the meeting, both parties discussed means of developing mutual co-operation between Libya and Singapore, especially relating to the oil and gas industry.

A new oil discovery by RWE dea On 5^th May 2008, NOC announced that the German Company

RWE Dea – North Africa, a party to an EPSA 3 agreement concluded with NOC, has made a new oil discovery in the exploration well (B1 NC-195) at Area 195 in Sirte Basin (around 800 kms east of Tripoli, 100 kms south of Ras Lanuf). The average daily production upon test as follows:

Oil Gravity (APl)	Gas Rate (mmcf/day)	Oil Rate (bbl/day)	Choke (Inches)	Depth (meter)	formations
63.2	15.4	204	52/64	1581	Dahra
57.6		840	32/64	1691	Beda

Under the above mentioned EPSA Agreement, The share of NOC is 68% while the share of RWE is 32%

Libyan British Cooperation Within the framework of the planned cooperation between British

companies and institutes and the oil sector of Libya, and following the forum held last year between NOC representatives, The Libyan Businessmen Body and representatives from British companies and institutes, a meeting was held on 27^th April 2008 at NOC headquarters between Mr. Faraj Sa'eed, NOC Under_Secretary, Mr. Ali Saleh, General Manager of NOC Manpower Development and Training Department, Mr. Gareth O'Brien, Manager of the Commercial Division of the British Embassy and Mr. Richard Queen Stanley, Consultant of the Commercial Relations of the British Embassy

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Production of the Offshore Jorf Field Stopped During the drilling of the development well B18, for gas injection, on

the production platform at the offshore Jorf field, a deviation occurred on the drilling line which resulted in damage on the producing pipeline of the adjacent well B12. In order to prevent the possibility of blow out of well B12, a meeting was held on 17^th April 2008 at the Operator's headquarters and was attended by technicians from the participating parties: NOC, Wintershall and Total, where the subject matter was discussed and the following procedures were decided to be taken :

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