Waha field
Encyclopedia
Waha field is an oil field
located in the Libya
sirte basin
and owned by the Waha Oil Company
(WOC), which is a subsidiary of the National Oil Corporation
(NOC). During 2006, the Waha fields produced around 350000 barrels (55,645.6 m³) per day, down from around 1 Moilbbl/d in 1969 and 400000 oilbbl/d in 1986. However, WOC expects to increase Waha output by around 200000 oilbbl/d over the next couple of years. In 2005, ConocoPhillips
and co-venturers reached an agreement with NOC to both return to its operations in Libya and to extend the Waha concession by another 25 years. ConocoPhillips operates the Waha fields with a 16.33% share in the project. NOC has the largest share of the Waha concession at 59.17%, and additional partners include Marathon
(16.33%), and Amerada Hess (8.17%).
Oil field
An oil field is a region with an abundance of oil wells extracting petroleum from below ground. Because the oil reservoirs typically extend over a large area, possibly several hundred kilometres across, full exploitation entails multiple wells scattered across the area...
located in the Libya
Libya
Libya is an African country in the Maghreb region of North Africa bordered by the Mediterranean Sea to the north, Egypt to the east, Sudan to the southeast, Chad and Niger to the south, and Algeria and Tunisia to the west....
sirte basin
Sirte Basin
The Sirte Basin is a late Mesozoic and Tertiary triple junction continental rift along northern Africa that was initiated during the late Jurassic Period. It borders a relatively stable Paleozoic craton and cratonic sag basins along its southern margins...
and owned by the Waha Oil Company
Waha Oil Company
Waha Oil Company is an oil company based in Tripoli, Libya, engaged in the fields of crude oil and natural gas exploration and production.-Overview:...
(WOC), which is a subsidiary of the National Oil Corporation
National Oil Corporation
The National Oil Corporation is the national oil company of Libya. It dominates Libya's oil industry, along with a number of smaller subsidiaries, which combined account for around 70% the country's oil output...
(NOC). During 2006, the Waha fields produced around 350000 barrels (55,645.6 m³) per day, down from around 1 Moilbbl/d in 1969 and 400000 oilbbl/d in 1986. However, WOC expects to increase Waha output by around 200000 oilbbl/d over the next couple of years. In 2005, ConocoPhillips
ConocoPhillips
ConocoPhillips Company is an American multinational energy corporation with its headquarters located in the Energy Corridor district of Houston, Texas in the United States...
and co-venturers reached an agreement with NOC to both return to its operations in Libya and to extend the Waha concession by another 25 years. ConocoPhillips operates the Waha fields with a 16.33% share in the project. NOC has the largest share of the Waha concession at 59.17%, and additional partners include Marathon
Marathon
The marathon is a long-distance running event with an official distance of 42.195 kilometres , that is usually run as a road race...
(16.33%), and Amerada Hess (8.17%).