AmCham Libya hosted a virtual briefing by Schlumberger SLB, the world’s largest offshore drilling company in September.
SLB had signed a first of its kind turnkey contract to support Libya’s NWD (National Oil Well Drilling and Workover Company) last July to drill three wells in the Murzuq Basin.
This contract is an important element in NOC’s strategic plan to increase oil production, as well as an example of NOC’s commitment to work with multinationals.
In the briefing, AmCham reported that SLB had shared key insights from its long history in Libya, as well as reflections on this current contract. In addition, Marina Galkina, Economic Officer from the U.S. Embassy to Libya welcomed the participants and commented on the importance of the SLB contract and the positive signal it sends to other U.S.-based companies.
SLB to drill for REMSA
It will be recalled that in July this year, Libya’s state National Oil Corporation (NOC) had announced that in the first of its kind for Libya, a ‘‘turnkey contract’’ to drill three wells had been signed between the NOC’s National Well Drilling Company (NWD) and US-based Schlumberger.
The NOC said this entails Schlumberger providing NWD with the necessary support for drilling the three wells for the benefit of Spain’s Repsol Exploration Murzuq S.A. (REMSA).
Explaining the aim of this contract, the NOC explained that the purpose of the three wells is to increase oil production and enhance collaboration between national and international companies.
The two well concessions (NC 115 and NC 186) are in the Murzuq Basin.