Waha JV wildcat makes discovery in Libya's Sirte Basin

10/18/2010

Waha JV wildcat makes discovery in Libya's Sirte Basin

The Waha Oil Company has achieved an oil and gas discovery with its new field wildcat well drilled in Libya's Sirte Basin to a total depth of 9,227 ft (2,812 meters).

The National Oil Corporation (NOC) of Libya reported today that the discovery well 6Q1-59 was drilled in Block 105/59 approximately 80 km southeast of Marada.

The initial production test from Lidam and Lower Beda established flow from the Lidam Formation of 1,080 b/d of 41-degree API oil with 860,000 cf/d of natural gas from a net payzone of 82 ft within the tested interval of 8,960 to 9,050. From the Lower Beda Formation, the flow was established at 1,704 b/d of 36-degree API oil from a 61-ft payzone within the tested interval 6,850 to 6,911 ft. The choke was 32/64-inch in both.

Waha Oil Company is owned by the National Oil Corporation in a joint venture with ConocoPhillips, Marathon Oil, and Amerada Hess. The partnership resumed operations in 2006 after having suspended operations in 1986 when it was known as Oasis Oil Company. ConocoPhillips and Marathon each hold 16.33% interest in Waha Oil Company and Hess has 8.17%. The remaining 59.17% interest is held by NOC.

 


 

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