ExxonMobil wins exploration agreement with NOC in Libya
Drilling Activity Details
Geo Coordinate
Drilling Activity Summary
Description
ExxonMobil Corp., Irving, Texas, signed a heads of agreement to execute an exploration agreement with Libya's NOC in the offshore Sirte Basin. The agreement includes four blocks in Contract Area 21, approximately 110 miles off the Libyan coast. The contract area comprises 2.5 million acres and is in 5,400 to more than 8,700 ft of water. ExxonMobil committed to a five-year work program consisting of at least 2,500 miles of 2-D seismic, 770 sq. miles of 3-D seismic, and a deepwater exploration well. The company will also pay a signature bonus. The major already has a substantial seismic acquisition program under way in adjoining Contract Area 20 in the Sirte Basin.
Description
ExxonMobil Corp., Irving, Texas, signed a heads of agreement to execute an exploration agreement with Libya's NOC in the offshore Sirte Basin. The agreement includes four blocks in Contract Area 21, approximately 110 miles off the Libyan coast. The contract area comprises 2.5 million acres and is in 5,400 to more than 8,700 ft of water. ExxonMobil committed to a five-year work program consisting of at least 2,500 miles of 2-D seismic, 770 sq. miles of 3-D seismic, and a deepwater exploration well. The company will also pay a signature bonus. The major already has a substantial seismic acquisition program under way in adjoining Contract Area 20 in the Sirte Basin.