The National Oil Corporation’s (NOC) Media Office confirmed the news that Russia’s Tatneft had achieved ‘‘good exploratory results’’ in the Ghadames Basin.
The NOC Media Office was confirming the story published by Russian news agency TASS last Friday quoting Deputy CEO of Tatneft Nurislam Syubaev. Syubaev had told TASS, on the sidelines of the Russia-Africa summit, that ‘‘Tatneft has drilled exploration wells in Libya and the flow rate from some of them is good’’.
“We have drilled exploration wells in line with the prospecting plan. We got a good production rate from some of them. We are now doing cost efficiency calculations. If they are positive, we will move to the pilot development stage,” Syubaev continued.
“Yes. We will certainly [complete the estimates this year]. Then we will understand whether to continue,” he added, answering a question about whether Tatneft would complete estimates this year.
It will be recalled that Tatneft is the operator of the contract area 04/82 as a second party through the Exploration and Production Sharing Agreement (EPSA IV) with the NOC signed in December 2005.
In May this year the NOC and Tatneft had announced a new oil discovery in contract area 04/82 located in the Ghadames basin through drilling and testing the exploratory well 1-82/4 (F1-82/4).
The exploration well had been drilled at a total depth of 8,500 feet with a flow rate of 1,870 barrels of oil per day, as per the agreed choke, from Devonian and Ordovician sandstone within the Ghadames oil basin located about 330 km southwest of Tripoli.
This well was the third discovery of the exploration activity of Tatneft in the contract area 04/82.
Tatneft drilled this well as an operator under the EPSA IV agreement with the NOC, with the distribution of the interest share of 89.5 percent to the NOC and 10.5% to the operator Tatneft.
Tatneft is the first Russian company to enter the Libyan oil sector, obtaining a 30-year EPSA with the Libyan government in 2005 among 48 international companies. It stopped all its oil operations in Libya in 2011 and resumed them in 2021.