The National Oil Corporation (NOC) announces that Tatneft Company, which is associated with the National Oil Corporation through an exploration and production sharing agreement, has resumed the drilling operations for the appraisal well No. B-82 in Al Hamada area in Ghadames Basin.
As the company has suspended its exploration operations since February 2011, and after many meetings between NOC and Tatneft Company during the last few months, as well as the mutual visits between the two parties, where its CEO made several visits to NOC headquarters in Libya and met with the Chairman of the Board of Directors and technical teams also due to the improvement of security conditions in the country, the Company decided to resume its exploration program.
As a result to all that, today, October 15, 2021, drilling was resumed for the appraisal well B2, which suspended in February 2011 at a depth of 3900 feet, the objective of this operation is to continue drilling to a depth of 8700 feet. It is expected that this will will reach the target depth within about 45 days.
On this occasion, Mr. Mustafa Sanalla, NOC Chairman of the Board of Directors, stated that it is our pleasure to see today one of the international companies resumes their exploration activities again in Libya to increase the production in the country, what Tatneft Company is doing today by resuming its exploration programs is a clear indication of the improvement in security conditions and that Libya has once again returned to the ranks of the targeted countries for investment in the oil and gas sector.
He also stressed that the company would be working during the next few weeks to put some of its discoveries into production after presenting its development plan along with commerciality, according to the normal standards of the exploration and production sharing agreements EPSA IV.
The Chairman of the Board of Directors confirmed that NOC and all its staff are ready to provide full support to the exploration companies operating in Libya, and we call on them to follow the example of Tatneft Company and start resuming their exploration activities to implement the remaining work program.
