Repsol, as part of a consortium of oil companies, has signed an exploration and production agreement on the so-called A and B blocks in Libya.

 The consortium, for which Repsol is operator with a 32% stake, is also made up of OMV and Total, each with 24%, and Saga with 20%, and is working under a production-share agreement.

 Blocks A and B are in the Murzuq Basin, near the NC-115 concession operated by Repsol Oil Operations, and have a surface area of approximately 23,000 Km². Work to be carried out on the new blocks includes seismic studies and a drilling programme.

 This new licence reinforces the upstream position of the members of this consortium in Libya, and confirms their interest in the Basin�s potential.

 Repsol has been active in Libya since October, 1994, when it signed a contract as operator (with a 40% stake) of a consortium with other European companies for the exploration and production of block NC-115. The other companies are: OMV (with 30%) and Total (with 30%).