Petroleum Africa
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Thursday, April 17, 2014
National Oil Corp. (NOC) subsidiary Arabian Gulf Oil Co. (AGOCO) made a discovery in the Sirte Basin with the drilling of the FF2-47 well around 80 km west of Marada Town.
The discovery was drilled to a total depth of 7,270 ft and tested oil from the Lidam Formation. The initial production test saw flow rates of 1,900 bpd oil from an interval between 6,776-6,790 ft and 6,800-6,820 ft.
The FF1-47 exploration well was drilled in 1971 and the results were not encouraging where only 65 barrels of oil were recovered and hence it was not considered as a discovery at the time.
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