Blocks C17 and C137 to be converted to exploration and production sharing agreement IV format

French integrated oil and gas company Total has signed a memorandum of understanding (MoU) with Libya’s National Oil Corporation to convert the existing petroleum contracts covering the blocks C17 and C137, operated by its subsidiary Mabruk Oil Operations, to the exploration and production sharing agreement IV format.

According to the company, the blocks C17 and C137, which will be converted to exploration and production sharing agreement (EPSA) IV format, are respectively located in the onshore Sirte Basin and the offshore Sabratha Basin around 100km from the Libyan coast.

Total has a 75% working interest of the second party share in each block, with StatoilHydro holding the remaining 25% of Block C17 and Wintershall the remaining 25% of Block C137.

In addition to production from the offshore Al Jurf field in Block C137 and from the Mabruk field in Block C17 in the Sirte Basin, Total also operates other exploration licenses in Libya.

In 2008, Total’s equity production in Libya, which also includes its interests in non-operated blocks, averaged around 75,000 barrels of oil per day, said the oil company.

Total is a multinational energy company engaged in leveraging sustainable response to the growing energy demand. It operates in more than 130 countries, claims the company.