Even though the majority of its production is currently shut-in, Libya’s National Oil Corporation (NOC) is still looking ahead to long-term production gains. NOC met with a Japanese consortium consisting of Japex and Sojitz on 29 January to discuss the results of a development study for its subsidiary Agoco’s Concession 47 (previously Block 104/47) in the Sirte basin (see map, MEES, 31 January).

NOC says the consortium presented plans which envision production of “about 80,000 b/d” from the concession’s Baida (Bayda) and Haram fields. “The consortium will present a modified development plan in the coming days, along with a proposal for the contractual relationship type,” NOC says. (CONTINUED - 166 WORDS)