Asset Report

NC186 Fields

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10 May 2018

NC186 Fields

Report summary

NC186 is located in the Murzuk Basin, immediately to the northeast of Repsol's NC115 acreage. Repsol and its partners have made 12 discoveries on the block since 2000, seven of which have been deemed commercial. Development consent was granted for the NC186-A field in August 2002 and first oil was produced in October 2003. NC186-D was granted development consent in August 2003 and came onstream in June 2004. The partners received development approval for both the NC186-B and NC186-D fields in March 2006. Both NC115 and NC186 contracts were renegotiated and transferred to the EPSA IV model in July 2008. The NC186 exploration licence was extended for five years to 2013 and the development licence extended to 2032. A combined (NC115 and NC186) bonus of US$1 billion was paid to secure the licence extension and up to US$4 billion of capital expenditure was committed. Since 2011, civil unrest has disrupted IOCs' efforts to maintain production.

Table of contents

  • Key facts
    • Summary
    • Key issues
  • Location maps
    • Unitisation
  • Geology
  • Well data
    • Commitments
    • Exploration Activity
      • First Exploration Period
      • Second Exploration Period
      • Exploration Licence Extension
  • Reserves and resources
    • Pre-conflict production
    • Post-conflict production
    • Post-conflict production
    • NC186-A and NC186-D fields
    • NC186-B and NC186-H fields
    • NC186-I field (part of the I / R field development)
    • NC186-J and NC186-K fields
    • Key future development metrics
      • Wells
      • Facilities
  • Infrastructure
    • Exploration Costs
    • Capital Costs
    • Operating Costs
    • Distribution of Costs
    • Cost Recovery
    • Production Sharing
    • Cash Flow
    • Discount rate and date
    • Inflation rate
    • Oil price
    • Licence Extension Agreement
    • Global Economic Model (GEM) File
  • Economic analysis

Tables and charts

This report includes 30 images and tables including:

  • Key facts: Table 1
  • Index Map
  • NC186 Map
  • Participation: Table 1
  • Participation: Table 2
  • Geology: Table 1
  • Geology: Table 2
  • Well data: Table 1
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Infrastructure: Table 1
  • Cash Flow
  • Economic analysis: Table 2
  • Economic analysis: Table 3
  • Split of Revenues
  • Cumulative Net Cash Flow - Undiscounted
  • Cumulative Net Cash Flow - Discounted at 10% from 01/01/2018
  • Remaining Revenue Distribution (Discounted at 10% from 01/01/2018)
  • Remaining Present Value Price Sensitivities
  • Exploration: Table 1
  • Production: Table 1
  • Production: Table 2
  • Production Profile
  • Post Contract Production Profile (post-2032)
  • Costs: Table 1
  • Costs: Table 2
  • Costs: Table 3
  • Fiscal and regulatory: Table 1
  • Fiscal and regulatory: Table 2
  • Exploration: Table 2

What's included

This report contains:

  • Document

    NC186 Fields

    PDF 4.97 MB

  • Document

    NC186 Fields

    XLS 896.50 KB

  • Document

    NC186 Fields

    ZIP 5.73 MB

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