Report summaryThe NC101 Fields are located in the Murzuq basin, around 150 kilometres southeast of Repsol's El Sharara fields. The block was originally awarded to Geokom (also known as BOCO - the Bulgarian Oil Company) as sole licence holder in 1982. The company had success with a string of oil and gas discoveries throughout the 1980s. However, the company was unable to develop the discoveries after it failed to raise project finance for the development. We have assumed a stand-alone development with oil and gas processing facilities located on the block and production tied back to the Zawiyah export terminal and refinery. An alternative scenario could see the NC101 fields jointly developed alongside TPAO's Area 147 fields which are located on the adjacent block. The timely resolution of Libya's myriad of challenges is key to the future of the upstream industry, particularly the approval and execution of greenfield oil and gas projects.
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