Identifier
Created
Classification
Origin
08TRIPOLI745
2008-09-22 12:58:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Embassy Tripoli
Cable title:
GERMAN OIL FIRM RWE MAKES TWO MORE DISCOVERIES IN LIBYA
how-toVZCZCXRO8238 RR RUEHTRO DE RUEHTRO #0745 2661258 ZNR UUUUU ZZH R 221258Z SEP 08 FM AMEMBASSY TRIPOLI TO RUEHC/SECSTATE WASHDC 3918 INFO RUCPDOC/DEPT OF COMMERCE WASHINGTON DC RHMFIUU/DEPT OF ENERGY WASHINGTON DC RUEHRL/AMEMBASSY BERLIN 0039 RUEHTU/AMEMBASSY TUNIS 0619 RUEHRB/AMEMBASSY RABAT 0715 RUEHTRO/AMEMBASSY TRIPOLI 4435
UNCLAS TRIPOLI 000745
SENSITIVE
SIPDIS
DEPT FOR NEA/MAG, ENERGY FOR GINA ERIKSON, COMMERCE FOR NATE
MASON
E.O. 12958: N/A
TAGS: ECON EINV ENRG EPET PREL LY
SUBJECT: GERMAN OIL FIRM RWE MAKES TWO MORE DISCOVERIES IN LIBYA
REF: A) 08 TRIPOLI 474; B) 08 TRIPOLI 597
UNCLAS TRIPOLI 000745
SENSITIVE
SIPDIS
DEPT FOR NEA/MAG, ENERGY FOR GINA ERIKSON, COMMERCE FOR NATE
MASON
E.O. 12958: N/A
TAGS: ECON EINV ENRG EPET PREL LY
SUBJECT: GERMAN OIL FIRM RWE MAKES TWO MORE DISCOVERIES IN LIBYA
REF: A) 08 TRIPOLI 474; B) 08 TRIPOLI 597
1. (SBU) The German oil firm RWE made two more oil discoveries
in the Sirte Basin in Libya in September 2008. RWE's new
successful discoveries do not reveal any new fields, but ensure
the potential of its blocks in the Sirte Basin, where the
quality of its sweet crude is high, and operating costs are low
($1-5 a barrel). Further appraisal work will be required in
order to confirm the scale of the anticipated reserves and the
possibilities of exploiting them economically.
2. (SBU) RWE is assessing these new reservoirs and is planning
five further exploratory wells. RWE also intends to drill a
series of appraisal wells in order to further define the most
promising areas in its concession.
3. (SBU) The agreement signed in June 2003 between RWE and the
Libyan National Oil Corporation (NOC) fell under Exploration and
Production Share Agreement-III (EPSA-III),and covers six blocks
with a total area of 30,270 square kilometers. This EPSA
agreement runs for a period of 30 years, with the NOC retaining
a 68 percent interest in the block, and RWE holding the
remaining 32 percent. RWE is the Operator with a 100 percent
participation interest in these concessions. (Note: The
EPSA-III framework featured significantly higher production
shares for international oil companies (IOC's) whereas the
latest EPSA-IV framework entails higher Libyan government shares
(see reftels a, b). End note.)
4. (SBU) Comment: Overall, the exploration program of RWE in the
Libyan Sirte Basin, with seven discoveries to date, is
successful but not surprising since the Sirte Basin contains
approximately 80 percent of Libya's total proven oil reserves.
End of comment.
STEVENS
STEVENSC
SENSITIVE
SIPDIS
DEPT FOR NEA/MAG, ENERGY FOR GINA ERIKSON, COMMERCE FOR NATE
MASON
E.O. 12958: N/A
TAGS: ECON EINV ENRG EPET PREL LY
SUBJECT: GERMAN OIL FIRM RWE MAKES TWO MORE DISCOVERIES IN LIBYA
REF: A) 08 TRIPOLI 474; B) 08 TRIPOLI 597
1. (SBU) The German oil firm RWE made two more oil discoveries
in the Sirte Basin in Libya in September 2008. RWE's new
successful discoveries do not reveal any new fields, but ensure
the potential of its blocks in the Sirte Basin, where the
quality of its sweet crude is high, and operating costs are low
($1-5 a barrel). Further appraisal work will be required in
order to confirm the scale of the anticipated reserves and the
possibilities of exploiting them economically.
2. (SBU) RWE is assessing these new reservoirs and is planning
five further exploratory wells. RWE also intends to drill a
series of appraisal wells in order to further define the most
promising areas in its concession.
3. (SBU) The agreement signed in June 2003 between RWE and the
Libyan National Oil Corporation (NOC) fell under Exploration and
Production Share Agreement-III (EPSA-III),and covers six blocks
with a total area of 30,270 square kilometers. This EPSA
agreement runs for a period of 30 years, with the NOC retaining
a 68 percent interest in the block, and RWE holding the
remaining 32 percent. RWE is the Operator with a 100 percent
participation interest in these concessions. (Note: The
EPSA-III framework featured significantly higher production
shares for international oil companies (IOC's) whereas the
latest EPSA-IV framework entails higher Libyan government shares
(see reftels a, b). End note.)
4. (SBU) Comment: Overall, the exploration program of RWE in the
Libyan Sirte Basin, with seven discoveries to date, is
successful but not surprising since the Sirte Basin contains
approximately 80 percent of Libya's total proven oil reserves.
End of comment.
STEVENS
STEVENSC