Speaking to North Africa Oil and Gas Summit 2012 on Wednesday, Jean Daniel Blasco, Vice President of TOTAL E&P; North Africa said despite security concerns in Libya TOTAL has managed to work in Tripoli as well as on the fields, both safely and efficiently.
Libya has commenced activities on rebuilding its economy at an accelerated rate. The IMF has reported that the Libyan economy is expected to surge by nearly 117 per cent in 2012 with oil production levels reaching 1.7 million barrels per day (bpd) to 1.95 million bpd by 2015.
According to Mr. Blasco, the challenges faced by TOTAL in Libya in addition to supporting development activities of Mabruk Oil Operations, were to re-start its exploration activities.
As the uprising ended and Libya moved forward on the road of democracy TOTAL’s main challenge was to support its branch in Libya in cooperation with the Libyan National Oil Company Libya (NOC).
Al Jurf field “The two fields Al Jurf (reached 55,000 bpd) and Mabruk (onshore) are now back to their pre-war production level.”
Libya’s proven oil reserves amount to 47 billion barrels and TOTAL is interested in expanding its opportunities in Libya, such as new exploration rounds.
Mr. Blasco reported: “In Libya, we are already participating in production from Al Jurf field, located offshore Tripoli. Two exploration wells are planned in 2013 for this area.
While Enhanced Oil Recovery (EOR) is increasingly important in Libya, Mr. Blasco states: “There is a lot to do with Improved Oil Recovery (IOR) activities on existing fields before starting costly EOR projects.”
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