Nafusa Oil Operations BV has announced that the National Oil Corporation (NOC) has acquired its foreign partner’s share in the development of the North Hamada field. T
his acquisition enables the resumption of exploration in Block 47 of the Ghadames Basin, which had been paused since 2014.
In a statement released on Friday, Nafusa Oil Operations highlighted that this acquisition is expected to facilitate new discoveries in Block 47.
These discoveries can be quickly developed and connected to the surface facilities currently being completed.
The statement also detailed the development stages of the North Hamada field. Development work commenced in March 2022, and production operations began in August 2023 with Well A-4, which produced at a rate of 1,500 barrels per day. This rate increased to 3,000 barrels per day last March with the addition of Well A-1.
With the commencement of the main shipping line, production is projected to gradually increase, aiming to reach 10,000 barrels per day by early September.
Previously, the NOC announced that it had acquired Medco Energy’s stake in the exploration and production-sharing agreement for Contract Area 47 in the Ghadames Basin, which included Medco’s entire share in Nafusa Oil Operations.
