Germany's RWE makes new oil find in Libya

Mon May 5, 2008 12:17pm EDT
 
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TRIPOLI, May 5 (Reuters) - German utility group RWE (RWEG.DE) has made a new oil discovery in the Libyan Sirte Basin, the third since April last year, Libya's National Oil Corporation (NOC) said on Monday.

"This discovery was made at the exploration well B1-NC 195 at Area 195 in Sirte Basin about 800 kms (500 miles) east of Tripoli and 100 kms south of Ras Lanuf," it said in a statement.

Tests showed oil output was at 204 barrels per day (bpd) at a choke point of 52/64 on its Dahra formation and 840 bpd at a choke point of 32/64 on its Beda formation, it said the statement posted on its website.

RWE's first oil find in Sirte Basin in 2007 was announced by NOC in April. Its second discovery came in in September last year also in the Sirte Basin, according to a NOC's statement.

NOC owns 68 percent and RWE has 32 percent in each of the discoveries. (Writing by Lamine Ghanmi; editing by James Jukwey)

 

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