TPOC holds a 51 per cent stake in a joint venture company which is exploring the NC-189 exploration well in the basin, along with two wells in Area 147 of the Murzuq Basin. The remaining 49 per cent stake is held by India’s ONGC Videsh.
The Turkish company says it requires the drilling of wells to 1,200 feet in the concessions along with maintenance and construction services. Documents must be submitted by 3 July.
In May, India’s state-run ONGC Videsh sold its share of another joint venture with TPOC in the NC-188 field in the Ghadames Basin to Libya’s National Oil Company, citing a lack of attractive commercial prospects.
The exploration phase of the NC-188 block has since been extended until 11 June 2009.
You might also like...
Acwa Power signs $356m Barka extension
25 April 2024
AD Ports secures Angola port concession agreement
25 April 2024
Abu Dhabi makes major construction investments
25 April 2024
Saudi Arabia seeks K9 PPP project interest
25 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.