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NOC and Repsol Libya Branch announce new oil discovery in Murzuq Basin
via Libya Herald4 min read
Libya's National Oil Corporation NOC and Spain's Repsol Libya Branch REMSA have announced a new oil discovery in the Murzuq Basin, approximately 800 km south of Tripoli. The discovery was made through the exploratory well "J1-4/130" in Contract Area "131/130," which reached a final depth of 4,325 feet. The well is currently producing an average of 763 barrels of oil per day from the Mu鈥檓inat Formation. This marks the fifth discovery out of eight contractual commitments under the Exploration and Production Sharing Agreement EPSA signed between NOC and REMSA in 2008. This announcement follows a recent discovery by Algeria's Sonatrach, also announced by the NOC on the same day.
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The Committee for the Reconstruction of Benghazi Centre and al-Sabri RBCS, part of the Libya Development and Reconstruction Fund, held multiple meetings in July with international companies regarding the Benghazi redevelopment project. The RBCS met with Turkish company NKY to discuss progress and technical proposals for the Benghazi Waterfront Development Project, focusing on design updates and architectural solutions. Another Turkish company, IRIS, visited project sites to understand the area's character and assess existing buildings for restoration, including historic structures. RBCS Chairman Mohamed Al-Hassadi met with Filippo Colombo, Consul General of Italy in Benghazi, and representatives of Italian company FIMA to discuss the restoration of historic buildings with Italian architectural character, aiming to preserve their identity and rehabilitate them to international standards. The committee also met with British company P+P to discuss the area's master plan, investment opportunities, and potential development sites, focusing on creating an attractive investment environment. Additionally, the RBCS held meetings with Polish company APA and Turkish company On Tasarim to review progress, discuss design updates, and technical modifications for the Benghazi Waterfront Corniche Project, ensuring integrated design solutions and adherence to high technical standards.
The Libyan Business Council LBC will host a presentation on the Pure Core project, which aims to produce activated carbon locally from agricultural resources and waste. The LBC states this initiative aligns with its commitment to sustainable projects that offer positive environmental impact, economic diversification, and local resource utilization. The presentation, scheduled for Thursday, July 16, at the LBC's Tripoli headquarters, is open to members including business owners and companies in the date and palm sectors, various industries, health, water treatment, solar energy, and oil and gas. It will cover the project's concept, technologies, and investment opportunities. The Pure Core project was selected by the Hult Prize platform as one of 80 projects from approximately 18,000 global entrepreneurial submissions. Activated carbon has diverse industrial applications, including water treatment, juice production, and the manufacturing of filters and disinfection products, alongside other industrial, health, and environmental uses.
Khoms Port announced the successful unloading and installation of a new LIEBHERR-LHM550 vertical gantry crane. The 150-ton capacity crane arrived by ship and was met with an official reception. This development is seen as a significant step in the port's growth, enhancing its operational capabilities and representing an investment in its future. The Libyan Ports Company's commitment to modernizing infrastructure, improving handling efficiency, and expediting the movement of ships and goods is reflected in this acquisition. The port anticipates that the crane will contribute to a new era of achievements and strengthen its position as a key port in Libya.