Report summaryThe EPSA South contract area comprises two blocks - NC177 and Concession 72. International Petroleum Libya discovered the En Naga reservoirs within block NC177 in 1998. The field's development was approved by NOC in January 2000, and it was brought onstream in March 2003. En Naga oil is exported via the main Waha pipeline and sold as part of the Es Sider blend at the Es Sidrah Terminal on the Libyan coast. In June 2008, Petro-Canada 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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- EPSA South (En Naga) PDF - 527.48 KB 23 Pages, 22 Tables, 8 Figures
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