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Libyan oil exports to jump to 1.24 mil b/d in Dec: sources
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ExxonMobil Focuses New Biz on Carbon Capture and Storage, Plans $3B Investment
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The second Environment forum in Libya
The National Oil Corporation (NOC), Brega Petroleum Marketing Company (BPMC), Mellitah Oil and Gas Company (MOGCO) and Azzawiya Oil Refining Company (ARC) organized the second Environment Forum on Tuesday December 17, 2019 in the capital Tripoli. The Forum aims to enhance cooperation between oil, industry and energy sectors in the field of environmental sanitation and to share NOC experiences in environment protection and sustainable spatial development. The forum programme also included an accompanying environmental exhibition showing part of NOC’s environmental…
Libya’s NOC Sets Out Big Plans in International Pitch
Libya expects to raise more than $20 billion in revenue in 2019, with production running at around 1.25 million barrels per day, the company’s chairman Mustafa Sanalla said at a conference in Tunis. The plan is for 2020 to be a “transformative year for NOC and Libya”, he said. There are a number of aspects to the scheme, which should see production increase to 1.5mn bpd in 2020 and 2.1mn bpd by 2024. Gas output by that point should be…
Intelligent control equipment increases production capacity at El-Bouri field
National Oil Corporation (NOC) announces the successful drilling of a development well at the El-Bouri field, utilising Intelligent Control Equipment Technology at the bottom of the well. Oil well B4-52 of Mellitah Oil and Gas Co’s marine platform No. 4 commenced production on September 25, 2018, with a production capacity of 1850 barrels per day. The project is considered the beginning of a new era for the development of increasing production capacity of future wells at El-Bouri field through the…
Eni Talks Bahr Essalam Phase II Development
Eni CEO Claudio Descalzi has been talking to Libyan officials about the second phase of development of the Bahr Essalam field, in which first gas is set for next year. In a meeting with Libya’s state oil company National Oil Corp. (NOC), Descalzi and NOC CEO Mustafa Sanalla discussed the Bahr Essalam Phase II development, which includes the completion of 10 wells. Nine of the 10 wells were drilled in 2016 at the field, which is one of the largest…
NOC uses latest technology to revive 16-year old oil well
The Arabian Gulf Oil Company (AGOCO), a wholly-owned subsidiary of Libya’s National Oil Corporation (NOC) has reported that it has successfully revived an oil well that has stood abandoned for 16 years. Agoco’s General Department of Production used the latest drilling techniques and Geo-Sphere mapping technology on this project developed by Schlumberger. It reported that as a result of the implementation of the ‘Drilling and Measurements’ service at Schlumberger Oilfield Service, well HH86-65 in the Mesla oil field is once…
Oil pulls back from highs as investors mull production outage in Libya
Oil prices edged lower on Wednesday, a day after reaching levels not seen in more than 2 years after a pipeline explosion in Libya. February West Texas Intermediate oil on the New York Mercantile ExchangeCLG8, -0.80% was down 24 cents, or 0.4%, at $59.73 a barrel. February BrentLCOG8, -1.18% fell 33 cents, or 0.5% to $66.71 a barrel. WTI oil prices hit a 2 1/2-year high on Tuesday, while Brent crude rose 2.7% after an explosion at a pipeline that connects crude-oil fields to Es…