libya

Oxy has built a prominent presence in Libya, with a position totaling approximately 30 million acres, making Oxy the country’s largest oil and gas acreage holder.

Oxy was the first U.S. company to resume oil operations in Libya after U.S. sanctions were lifted.  In July 2005, Oxy re-entered its historical producing areas (Blocks 29, 74, 102 and 103) after a 19-year absence and is applying new technology and EOR expertise to enhance production. Oxy had its first lifting from its Libyan operations in September 2006 and production during 2006 averaged 23,000 BOE per day.

Libya, with its vast, largely underexplored areas, is considered to be one of the most attractive international exploration regions.  Oxy geoscientists are expediting a major exploration program, the largest in the company’s history, to search for new discoveries.  In January 2005, Oxy dominated Libya’s first post-sanction exploration licensing round, winning nine of 15 exploration blocks up for bid.  Oxy is operator and holds a 90 percent interest in onshore Areas 59, 106, 124, 131 and 163. Oxy also was awarded a 35-percent working interest in four offshore Areas 35, 36, 52 and 53. 

In addition, the company holds a 100 percent working interest in exploration Areas NC143, NC144, NC145 and NC150.  A massive seismic program is underway to acquire 15,000 kilometers of 2-D seismic and 1,250 square kilometers of 3-D seismic on the onshore blocks; and 7,700 kilometers of 2-D seismic and 1,700 square kilometers on the offshore blocks.  Oxy plans to drill at least 14 exploration wells in Libya in 2006 and 2007. 

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