Sonatrach discovered oil in Libya

The Algerian oil company Sonatrach announced Monday the discovery of oil in the Ghadames basin, 230 km south of Tripoli in Libya, in partnership with the National Libyan hydrocarbons (Noc).

•     This discovery, made after the drilling of exploration wells A1-65/02 located in the Ghadames Basin, was made by Sonatrach association, through its subsidiary Sonatrach International Petroleum Exploration & Production (Sipex) and Noc, Sonatrach said in a statement.
  
      The shares of each partner in the contract of Association (EPSA) are 75% for the Noc and 25% for Sipex acting as operator, Sonatrach said.
  
      This is the first oil discovery made in Block 65 awarded by Sonatrach Noc in March 2005, adds the release.
  
      Besides Libya, Sonatrach, through its subsidiary Sipex, is present in several African countries including Mali, Mauritania, Egypt and Niger.
  
      Sonatrach, which exported nearly 75 billion dollars in 2008, aims to achieve 30% of its sales abroad by 2015, according to its leaders.
      
  Ennaharonline/ M. O.