FROM SCRATCH NEWSWIRE

SCAVENGING THE INTERNET

INDONESIA’S PERTAMINA EYES VERENEX LIBYA OIL FIND

Posted by Gilmour Poincaree on December 13, 2008

11/12/2008 15:33:00

PUBLISHED BY ‘THE TRIPOLI POST’ (Lybia)

Indonesia’s state oil firm, Pertamina, would like to participate in the Libyan oil area of Canadian energy company Verenex , a senior company executive said on Monday.

Pertamina has said it wants to expand its upstream activities and to participate in several potential oil and gas projects both at home and abroad to boost its reserves.

“We are interested in buying a stake in Verenex area 47 in Libya. We plan to see the data of the area,” Karen Agustiawan, Pertamina’s upstream director, told Reuters by telephone.

Verenex and partner PT Medco Energi Internasional have a 13.7 percent interest in a production sharing agreement with Libya’s National Oil Corporation, which holds the remaining share.

In October, Verenex made a new oil discovery in Libya in wildcat exploration well C1-47/02a, 180 km southwest of the capital Tripoli, NOC said in a statement on its website.

The flow was through a choke size of 32/64ths of an inch, with oil flowing at 1,739 barrels per day from a depth of 8,312 feet.

Pertamina already has two areas in Libya, 17 and 123 in Sirte, which are still at the exploration stage.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE TRIPOLI POST’ (Lybia)

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