Shell sponsored a training course in the area of a rapid response to emergencies.

Shell for Exploration and Production in Libya, set up lately a training programme for a rapid response to emergencies. The training course included the bases of treating with patients of traffic accidents, medical procedures on the scene of the accident and before the arrival of the injured to the hospital and how to deal with emergencies and urgent cases of road traffic casualties.
The training course aimed at raising the efficiency of hospital staff, from Emhamed Al-Mgariyf Hospital in Ajadabia and Albraiqa Area Clinic.

The trainees successfully completed the course, which run for 9 days, and they have been granted certificates of the first level of a rapid response to the emergencies which were approved by the surgeons at the Royal University in the United Kingdom in Edinburgh city.

It is understood that the British Company E.R.S which is specialised in this type of training, carried out this course.

And this training programme was part of the company's plans to implement sustainable development programmes in Libya.


Source: NOC Libya & Translated by SOC Libya

Libya hopes Verenex buy will not take long

Libya's plan to buy Verenex Energy Inc should not take long and it is well-placed to finance the deal, the country's most senior energy official said on Thursday.

Libya has said it will exercise its right to pre-empt a friendly C$10-a-share bid for Verenex from China National Petroleum Corp (CNPC) . It has yet to make a formal offer.

"Sometimes it's very difficult to give an exact time-frame, but I hope it will not take long," Shokri Ghanem, the chairman of Libya's National Oil Corporation, told Reuters television.

"Libya has quite a good fund," he said. "Most of the funds are invested in cash and cash is the king now, so I don't think we'll have a big problem regarding finance for this deal."

Verenex holds promising oil assets in Libya, home to Africa's largest oil reserves which has attracted a wave of interest from oil companies after the end of international sanctions.

With the assumption of debt, the C$10 a share offer from CNPC is worth C$499 million, the companies said when it was announced on February 26. The stock was unchanged at C$8.95 as of 1827 GMT.

Ghanem has previously stated that Libya would offer the same price as the C$10-a-share agreed by CNPC. He did not specify a purchase price in his comments on Thursday.

He said Libya had chosen to buy Verenex for commercial reasons.

Source: Reuters

Medco seeks $275m in loans to finance oil field in Libya.

Publicly listed PT Medco Energi International is seeking as much as US$275 million worth of loans to develop its oil block in Libya.

Medco project director Lukman Mahfoedz said the so-called Area 47 project in Libya would cost $800 million for facility construction and $300 million for development.

“Of the total cost of US$ 1.1 billion, Medco will only contribute 25 percent,” he said.

Medco president director Darmoyo Doyoatmojo said he was optimistic the company would secure the required loans.

“Once a reserve has been found, the project’s risk will be very small,” he said, adding Medco had talked with several banks about loans.

Area 47 is estimated to have contingent reserves of 307 million barrels of oil. Under the production sharing agreement, Medco and partner Canada-based Verenex jointly own 13.7 percent of the reserve, while Libya’s National Oil Company owns the remaining 86.3 percent once the block starts production.

Verenex is currently trying to sell its stake in the block, with Indonesian state-owned oil and gas company PT Pertamina reportedly looking to acquire the stake.

Darmoyo said Medco expected Area 47 to begin production by the end of 2010, with an average output of 50,000 barrels oil per day (bpd).

“We’ve submitted our appraisal reports on the project’s economic viability to Libya’s National Oil Company, and we expect to receive its approval in the third quarter,” he said.

Medco, controlled by the Panigoro family, recorded $280 million in net profit last year, up from $7 million in 2007.

Source:The jakarta post

Two new oil & gas discoveries in Libya

The Libyan state-owned National Oil Corporation (NOC) has reported two new oil and natural gas discoveries - one with Algerian partner Sonatrach in the Ghadames basin and the other with Spanish partners Repsol YPF SA and OMV AG in the Sirte basin.

NOC said Sonatrach made the first discovery on Block 65 in the Ghadames basin with the wildcat A1-65/02 well. The well was drilled to 9,033 ft TD about 230 km south of Tripoli, encountered both oil and gas in the Mamouniyat formation at intervals of 8,532 and 8,560 ft.
Testing of the wildcat showed oil of 48.8° gravity flowing at 1,344 b/d and gas flowing at 1.88 MMcfd through a 28/64-in. choke, NOC said.

NOC holds a 75% stake in the Block 65 license, while Sonatrach holds the remaining 25% stake, which it acquired in 2005.

NOC's second reported discovery, in the Sirte basin about 500 km east of Tripoli, was with the A1-NC202 wildcat, drilled to 15,815 ft TD in 50 m of water.

NOC said the A1-NC202 discovery found both oil and gas in the Demah formation at intervals of 4,442 and 4,484 ft. Testing of the well showed 26° gravity oil flowing at 1,264 b/d and gas flowing at 0.58 MMcfd through a 32/64-in. choke.

Repsol YPF operates the NC202 Block, which was awarded in 2003. Repsol YPF holds 21% interest, while NOC has a 65% stake, and OMV holds the remaining 14%.