In my name and in the name of my colleagues in the management committee and all employees of Nafusah Oil Operations Company, I would like to welcome you to the new website of the company, which we aim to be a window to see the company’s activity and communicate with them.
We truly welcome all comments and suggestions received from our visitors. We also emphasize that we at the management committee aim to promote the principle of transparency and introduce company activities to everyone who is interested in this area, hoping that the company Nafusah oil operations to be one of the economic pillars of our beloved country Libya.
The Chairman of the Board
Company Profile
The National Oil Corporation of Libya (NOC) along with the Libyan Investment Authority (LIA) and Medco International Ventures Limited (MedcoEnergi) have established Joint Operating Company (JOC), Following the Medco company’s success in the exploration and Appraisal programs of Area 47 in Libya-Hamada region.
March 2013
The Establishment of Nafusah Oil Operation B.V
Nafusah Oil Operation B.V was established in 18/03/2013 as Joint Operating Company between first party and second party to act as the operator for development and production phases of the Contract Area 47 according to the EPSA agreement.
2010
LIA has acquired VEAL shares
In 2010 LIA has acquired VEAL shares as per the Decision of General people’s committee no (72) of The year 2010 regarding approval of withdrawal VEAL from EPSA and replaced by Libyan Investment Authority (LIA) in Area 47, and the appointment of MIVL as operator in Area 47 and extension of exploration period.
March 2005
The exploration and production sharing agreement for area 47
The exploration and production sharing agreement for area 47 with (EPSA) signed on March 12, 2005 between National Oil Operation (NOC) and verenex Energy Area 47 Libya Limited (VEAL) and Medco International Ventures Limited (MIVL) and made effective on 31/03/2005 by Decision of General Peoples’ Committee
The (Area 47) Al-Hamada al-Hamra (the Red Plateau) region is a mixture of sand seas and rocky plain which occupies the area between the Western Mountain and the Awbari Sand Sea and Wadi Ash Shati. The region which is part of the Libyan Sahara desert is often accessed via Daraj and Ghadames.
Seven different routes have been identified from Misurata and Tripoli that could be suitable for accessing the Area 47. four of them are desert paved roads. The North Hamada project includes the development of the oil discoveries in Structures A, B, C, D, F and J in Block 2 of Area 47 in the Ghadames Basin.