Report summaryThe El Sharara development comprises twelve fields within the NC115 block in the Murzuk Basin. The development is in southwest Libya, 700 kilometres south of Tripoli. Half of the fields were discovered by Rompetrol in the mid-1980s under an EPSA II contract. Due to a lack of finance to progress the development, Rompetrol sold its interest to Repsol in 1992 for US$65 million. OMV joined Repsol in late 1992, followed by Total in 1993 and an agreement to develop the field was signed on 6 December 1994. In order for the development of El Sharara to proceed, the partners had to finance the first export pipeline from the Murzuk Basin. Its construction paved the way for further exploration and development in the basin. Both NC115 and NC186 contracts were renegotiated and transferred to the EPSA IV model in July 2008. Since 2011, civil unrest has disrupted IOCs' efforts to maintain production.
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