VOL. XLI

No. 08

23-February-1998

LIBYA

Lasmo Increases Reserve Estimate In Libyan Oilfield

UK-based Lasmo Plc announced on 17 February that the successful appraisal of theElephant oilfield in Libya's block NC-174 has led it to increase the estimated size ofreserves in the field to more than 500mn barrels of crude oil, making it "the largestdiscovery in Libya in some 13 years." A company statement said that appraisal wellF2-NC-174 was drilled 3.5km to the south of the discovery well F1-NC-174 in...