TotalFina Elf launches Libyan development
Following an agreement with Libyan authorities, TotalFina Elf commenced development of the B Structure on Block 137 about 62 miles offshore Libya in 295 feet of water.
The "B" structure was discovered in 1975 and confirmed in 1998.
Field development plans call for a wellhead platform connected to a FPSO. Initial oil is scheduled to flow in early 2003. Production is expected to plateau at 35,000 b/d of crude.
TotalFina Elf said launching the Block 137 development confirmed its commitment to Libya's upstream sector and strengthened the company's position in North Africa. Partners in the field include Libyan National Oil Corp. and Wintershall.
© 2001 Mena Report (www.menareport.com)