Repsol’s first exploration and production activities in Libya date back to the early seventies with a focus on our Upstream business. Since then, the success achieved by Repsol in its projects and discoveries have made Libya one of the most outstanding countries for Repsol's growth strategy, and are also making a strong contribution to the development and consolidation of the current and future wealth of the country.
Currently, we carry out operations through our subsidiary Repsol Exploration Murzuq S.A. (REMSA).
The adjusted net income of the Upstream areas increased by 110%. The increase in production was down to the new barrels obtained in a variety of projects, with Libya making the largest contribution.
Located in the Murzuq basin, in May of 2003 we began the process of the second phase of exploration on well I1-NC186. We’ve also made a new discovery of light crude in the exploration block located within the prolific Murzuq basin, 800 kilometers south of Tripoli, in the Sahara desert.We are the operators of this block with a 32% stake, together with the Libyan National Oil Company and three European companies: OMV (Austria), Total (France), and Hydro (Norway).
Repsol Exploración Murzuk
Oficinas REMSA - Tower 3,
Dat El Imad Tower Complex