The EPSA Central contract area - previously known as Concession 13 - contains the Tibisti field and a number of small satellite fields. Mobil discovered the Tibisti field in 1962. The field is located 200 kilometres south of the Ras Lanuf terminal and is often referred to using its previous name of Ora. EPSA Central fields have been in long-term decline, producing only a fraction of the 51,400 b/d peak production achieved in 1966. In June 2008, Petro-Canada (now Suncor Energy) signed new contracts for its Libyan concessions whereby existing concession licences were converted to EPSA IV terms and a 30 year licence extension was granted. There are now six EPSA contracts areas (EPSA North, EPSA West, EPSA Central, EPSA East, EPSA South East and EPSA South), five of which are producing. Petro-Canada paid a US$1 billion non-recoverable signature bonus as part of the deal, over a five-year period. The new terms took effect from January 2008.
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Asset report | Mar 2016
EPSA Central (Tibisti/LDM)
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