Report summaryThe NC195 acreage is located in the central Sirte Basin, 100 kilometres south of the Ras Lanuf oil terminal. NC195 was awarded to RWE Dea, now DEA, under EPSA III terms in 2006. In 2010, the fields were declared commercial, allowing their development to proceed. At the point of sanction, RWE Dea forecast first production by 2015, but we now expect this to be delayed until next decade due to the adverse political and security situation in Libya. Oil production, once onstream, is likely to be transported via a nearby pipeline to the Ras Lanuf oil terminal on the Mediterranean coast.
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