By Libya Herald staff.
Malta, 4 January 2015:
Eni North Africa (Eni-NA) has started its exploration drilling of a new well (A1-1/1) in . . .[restrict]its Contract Area “D”, in the offshore waters of Libya, the Libya National Oil Corporation (NOC) reported on Friday.
The Area was granted to Eni-NA under the EPSA IV contract model signed between the ENI-NA and the NOC on 01 January 2008.
This is the 3rd well that the company is currently drilling offshore Libya.The well will be drilled in a water depth of 405 feet (123 meter) and it is located about 140 kilometer off the Libyan coast and 30 Kilometer North of Al-Bouri Oil Field. The drilling operation is expected to be completed in 55 days from the spud date, the NOC said.
The Bouri Offshore Field is part of Block NC-41, which is located 120 kilometers (75 mi) north of the Libyan coast. It was first discovered in 1976 at a depth of 8,700 feet (2,700 m) and is estimated to contain 4.5 billion barrels (720,000,000 m3) in proven recoverable crude oil reserves and 3.5 trillion cubic feet (99 km3) of associated natural gas with an annual production potential of 6 billion m³. Bouri is considered the largest producing oilfield in the Mediterranean. [/restrict]