Repsol to Resume Oil Drilling in Libya

Spanish oil firm Repsol is reported to be making final preparations to resume drilling in Libya early next year.

The company currently has rights to nine blocks, seven of which, totalling 16,185 km2, are exploratory; and two of which, totalling 1,566 km2, are in operation.

It made a discovery at block NC-115 in January 2011, but progress was halted by the revolution.

Production restarted at two blocks last month, and throughout 2012 Repsol is expected to reach production levels close to those recorded prior to the conflict.

Tripoli Post cites sources as saying that the company has ordered a new drilling rig and will start drilling in the east Libyan desert as soon as that arrives, probably early next year. The source added that production was now close to the 350,000 barrel per day it was pumping before the war.

(Source: Tripoli Post)

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