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Repsol YPF and its partners have notched up their fifth oil discovery on Libya's Block NC186 in the country's prolific Murzuq Basin in the southern Sahara Desert, Repsol announced Monday.
The four earlier discoveries on the 2,670 mile block are estimated to contain recoverable reserves of over 400 million barrels of light oil.
The latest I1 discovery well tested at a rate of 2,060 barrels per day of high quality light crude oil, Repsol said. It was drilled to a total depth of 5,630 feet and is the third commitment well of the second exploratory phase on...