Area 147/3-4 is located in northeastern part of the Murzuq Basin, southwest of Libya and covers an area of 2783 km2. The block is awarded to Turkish Petroleum Overseas Company (TPOC), a wholly owned subsidiary of Turkish Petroleum Corporation (Türkiye Petrolleri Anonim Ortaklığı, TPAO), in the Second International Bid Round of Libya in 2005. The Exploration and Production Sharing Agreement (EPSA) signed between TPOC and National Oil Company of Libya (NOC) became effective on December 10, 2005. The EPSA for Area 147/3-4 calls for a minimum work commitment of two exploration wells and 500 km 2D and 300 km2 3D seismic acquisition in a 5-year exploration period. The exploration period was extended for 1.5 years until June 10, 2012. TPOC initiated a vigorous exploration program in the area starting with the reprocessing of previously acquired approximately 3400 km 2D seismic data in the TPAO data processing center in 2006. In addition, TPOC acquired 573 km 2D and 352 km2 3D seismic data in 2007 and conducted detailed G&G studies and determined the hydrocarbon prospectivity of the Area. The Paleozoic section constitutes the main hydrocarbon system. Organic-rich lower Silurian “Hot shales” of Tanezzuft Formation are the primary source rock as widely recognized and proven in the North Africa. Silurian Tanezzuft Formation is also the main seal in the Area 147/3-4. The primary reservoirs are the middle and upper Ordovician glacio-marine and fluvio-deltaic sandstones of Memouniat and Hawaz formations. Furthermore, Devonian Aouinet Ouinine sandstones were tested and yielded significant amount of oil. There are several trapping types in the block such as buried hills, simple anticlines, fault bounded structures. The exploration wells drilled by TPOC tested different play types and resulted in oil discoveries. TPOC drilled a total of 11 exploration wells in Area 147/3&4 and 7 of them resulted as new oil discoveries. TPOC will acquire new 2D and 3D seismic data in 2011 and drill additional exploration wells. Furthermore, following the completion of the appraisal program, TPOC plans to put these oil discoveries on stream as early as possible.


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