January 2, 2011 / 3:06 PM / 8 years ago

Turkey's TPAO makes oil find in Libya

ALGIERS, Jan 2 (Reuters) - A subsidiary of Turkey’s TPAO has discovered oil at a well on a Libyan concession it operates, Libya’s state oil company NOC said on Sunday.

Turkish Petroleum Overseas Company (TPOC), a wholly owned TPAO subsidiary, made the discovery on the area 147 concession, which it was awarded in 2005, NOC said on its website.

Tests showed an oil flow rate of 685 barrels per day (bpd), it said.

TPOC holds a 9.7 percent interest in the concession, and NOC owns the remaining 90.3 percent, the statement added.

Writing by Hamid Ould Ahmed; Editing by Erica Billingham

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