Our company is currently operating on 113 license area (blocks 1 and 2) in the Murzuq basin (SW Libya). During 2009 and early 2010 we completed seismic data acquisition in the area with quite extensive program for both 3D and 2D.
Our geologists organized in 2009 field work in the neighboring Gargaf area to study outcrops of main reservoir, source and sealing formations in the region. The study gives an excellent comparative background for interpretation of the seismic data which has just started.
Simultaneously, the geologists are also studying regional context of tectonic and facies development of the area which allow us to understand evolution of the petroleum system and interpret promising hydrocarbon traps. Both Libyan and Polish scientists take a part in the study as external consultants.
Basing upon results of this complex work we will soon identify geological structures for exploration drilling. According to our plans first exploration well should start by end of this year.