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RWE Dea Makes Oil Discovery in Central Libya

05-06-2008

NOC Libya announced that the German Company RWE Dea – North Africa, a party to an EPSA 3 agreement concluded with NOC Libya, 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:i

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Under the above mentioned EPSA Agreement, The share of NOC is 68% while the share of RWE is 32%. Libya's 41.5 billion barrels in proven oil reserves are Africa's largest