About Akakus Oil Operations PDF Print E-mail
Article Index
About Akakus Oil Operations
Page 2
All Pages
  • A fiber optic line has been laid, adjacent to the main pipeline, in order to facilitate all necessary communication and control requirements to maintain monitoring between the Tripoli Headquarters, Zawia Terminal and El-Sharara Field.

 

  • The Zawia Tank farm was constructed, initially with six (6) 300,000 STB capacity floating roof tanks, to cater for all the El-Sharara produced crude storage and lifting to worldwide tankers. A portion of the crude is utilized by the nearby Zawia Refinery. Three additional tanks of equal capacity have been constructed during the year 2005 to upgrade the storage capacity of the Terminal to a total of 2.7 million STB.

 

  • The first shipment of crude oil from El-Sharara to Zawia commenced on the 12th of December 1996

 

  • The first lifting of the El-Sharara crude  commenced on the 1st of September 1998

 

  • The exploration of five (5) additional production fields (O. N, M, J and NH) was undertaken during the year period 2001 - 2004

 

  • The development of the NC-186 “A” and “D” fields started early 2002 and first oil was achieved be early 2003.

 

  • On the 28th of August 2008 the official name of Repsol Oil Operations has been changed to akakus oil Operations by resolution No. 471 passed by the Secretariat of the General Committee for Economics, Industry and Trade.

 

  • Currently, Akakus Oil Operations, is considered as on of the largest oil producers in the Socialist Peoples Libyan Arab Jamahiriya with an average daily production exceeding 300,000 bbl/day

 

  • In view of the revised Exploration and Production Sharing Agreement between the NOC and the second party in relation to the sharing of the NC-115 and NC-186 production for a period of twenty five (25) years, effective the first of January 2008. Based on the above, Akakus Oil Operations is directed by a management committee comprised of five (5) members, of which three (3) members are assigned by NOC, with one member as Chairman of Management Committee and the Second Party assigns two (2) members.

 

  • The production sharing percentage for the two blocks has been divided accordingly as follows:

 

 

  •  
    • NC-115                   88 % First Party (NOC)

12 % Second Party

 

 

  •  
    • NC-186                   87 % First Party (NOC)

13 % Second Party