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106.32 
| | Type | Price | Brent | | Dubai | | | Urals | | | WTI | | OPEC basket 16/05/2013 20/05/2013 | |
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ANNOUNCEMENT OF OIL DISCOVERY IN THE EXPLORATION WELL A1-147/03 |
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NOC announced today Sunday 2/1/2011 that Turkish Petroleum Overseas company (TPOC) being partners in an Exploration and Sharing agreement, report initial information concerning the exploration well A1-147/03 New Field Wildcat in Murzuq Basin. The well is located approximately 120 km Southeast of El-Sharara Oil Field. The well A1-147/03, drilled in Murzuq Basin area 147 block # 03 to a total depth 8,967 feet, encountered hydrocarbons in Memouniyat Formation.
The initial production testing from Memouniyat established an oil flow as follows: Well Name | Formation | Tested Interval (feet) | Choke Size (Inch) | Oil Rate bbls/d | Gas rate MMCF/D | Oil Gravity (API) | A1-147/03 | Memouniyat | 8500-8624 | 28/64 | 685 | 0 | 32.6 |
This well represents the seventh discovery for exploration activity of the company in area 147 block # 03, which was awarded by NOC in December 2005. TPOC drilled the well as an operator under an EPSA agreement with NOC of the Great Socialist People’s Libyan Arab Jamahiriya with interest distributed as Follows: . First Party Interest (NOC Libya) 90.3 %. Second Party Interest (TPOC) 9.7 % (Operator). |
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