Tag Archives | Area 47

Study to Develop Sirte Basin Concession 47

By John Lee. National Oil Corporation (NOC) chairman, Eng. Mustafa Sanalla, met on Wednesday, January 29, 2020 with the Japanese consortium in charge of studying the development of concession 47 in the Sirte Basin (Beda and Haram Fields) in accordance with the Memorandum of Understanding signed in 2009. The consortium presented a detailed presentation of […]

NOC to Develop North Hamada Oil Field

The National Oil Corporation (NOC) has said it is keen to develop the North Hamada oil field, operated by Nafusa Oil Operations. This field is located in concession 47 of the Ghadames basin in the Northwest of Libya. A technical team held a workshop on May 20, 2019, to discuss proposals submitted for the development […]

Medco signs Libya Oil Exploration Contract

The Libyan Investment Authority (LIA) has signed a contract with the Indonesian company Medco Energi extending the previous agreement relating to oil exploration in district 47. The signing was attended by the LIA Chairman and Chief Executive Dr. Ali Mahmoud, and Medco Energi's General Manager in Libya Mr. Faisal Shita. Mr Shita said: "The initial […]

Medco may return to Libya

Mustafa Sanalla, NOC Chairman, has met with Indonesian Ambassador Raudin Anwar and his accompanying delegation at NOC Offices in Tripoli. Also attending were Abulgasem Shingheer, Member of the Board of Directors, Fathi Madi, Manager of Investment Department and Mr. Salah Ben Ali Manager of International Cooperation Office at NOC. The meeting discussed the mutual cooperation […]

AGOCO makes New Oil Find

By John Lee. According to Libya Herald, the Arabian Gulf Oil Company (AGOCO) is reported to have made a new oil find to the south-west of Maradah. The discovery is in Block 47, also referred to as “FF2-147”. The company says that the well tested with an initial flow of 1,892 bpd. (Source: Libya Herald)

Medco Energi Discovers Oil and Gas

Indonesia's PT Medco Energi Internasional Tbk, through its subsidiaries PT Medco E&P Indonesia (Medco E&P) and Medco International Venture Limited (MIVL), reported on Monday that it has successfully explored and discovered additional oil and gas at the O2 well in Area 47, Libya. The O2 well was spudded on 23rd May and drilled to a […]

Foster Wheeler Wins Nafusah FEED Contract

Foster Wheeler has announced that a subsidiary of its Global Engineering and Construction Group, in joint venture with Taknia Libya Engineering Company (Taknia), has been awarded a front-end engineering design (FEED) contract by Nafusah Oil Operations B.V. Libyan Branch for an onshore oilfield development, known as the Area 47 Development Project in Libya. Area 47 […]

Medco says Area 47 Delayed 2 Yrs

Indonesia's PT Medco Energi Internasional has said that production from its Libyan oil and gas project would not commence until 2016, two years behind an earlier target. A company spokesman told Reuters on Monday: "With the new government, we are now making preparations for the construction of production facilities. We have started talks with the […]