VOL. XXXIX

No. 41

8-July-1996

LIBYA

OMV Share Of Oil Reserves In Libya Set At 117Mn Barrels

In 1986 OMV established a joint venture with the Libyan National Oil Corporation (NOC) called the Zueitina Oil Company in which NOC holds an 87.5% interest and OMV 12.5%. Zueitina's production in 1995 averaged around 68,320 b/d, with OMV's share amounting to 427,000 tons (8,540 b/d). OMV's global crude and NGL production in 1995 totaled 1.926mn tons (38,520 b/d).