Akakus Oil Operations (AOO)

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Headquarters Tripoli
Founded 1996
Key People Abdulmajid Shah (Chairman)[1]
International Partners Repsol, OMV, Total
% held by NOC n/a
% held by IOCs n/a
Production output 340,000 bpd (2011)[2]
Website www.akakusoil.com

Snapshot

Akakus (formerly Repsol Oil Operations) is a joint venture (JV) shared between the Libyan National Oil Corporation (NOC), Spain's Repsol, Austria's OMV and France's Total.[3] The JV has its headquarters in Tripoli.[4]

History

AOO began producing in 1996, at a level of 50,000 barrels per day (bpd). In December 1997 activities in block NC-115 were commissioned, and in October 1998 a storage terminal and 720 kilometres (km) of transmission pipeline were put into operation. Early production began at the NC-186 block in 2004.[5]

In April 2007 all joint ventures (JVs) involving foreign firms producing oil and gas in Libya were forced to change their names in order to better reflect Libyan history and geography. The JV operated by Repsol at this stage became Akakus Oil Operations, a reference to the Akakus mountains in the south of the country.[6]

Activities

AOO operates two concessions in the Sahara desert, collectively known as the el-Sharara field[7]. The first is the NC-115 concession area approximately 680 km south of Tripoli, where in 2010, 230,000 bpd were being produced. The second is the nearby NC-186, where in 2010 production was eat 130,000 bpd.[8] At the NC-186 field, the NOC holds an 88 percent stake and Repsol the remaining 12 percent.[9]

Oil is piped from oil fields in these areas to the Zawia Terminal on the Mediterranean coast.[10]

External Links

Official website: www.akakusoil.com

Reference

  1. "Repsol Libya JV May Return To Prewar Output Next Month" Wall Street Journal 6 November 2011.
  2. "Repsol Libya JV May Return To Prewar Output Next Month" Wall Street Journal 6 November 2011.
  3. "Libya commercial round-up for February 2009" Telegraph, 31 January 2011.
  4. "Clients" Petrolcomet Services retrieved 4 November 2011.
  5. "AKAKUS OIL OPERATIONS- LIBYA" Muscat Regional Forum 2010 10 May 2010.
  6. "Libya - The Foreign Oil Producers" High Beam Research, 9 July 2007.
  7. "Welcome to Akakus Company", Akakus Oil Operations 10 May 2010.
  8. "AKAKUS OIL OPERATIONS- LIBYA" Muscat Regional Forum 2010 10 May 2010.
  9. US Department of the Interior"Minerals Yearbook, 2008, V. 3, Area Reports, International, Africa and the Middle East" p25.6 Government Printing Office 2010.
  10. "Clients" Petrolcomet Services Co. retrieved 4 November 2011.