October 27, 2010 / 3:26 PM / 9 years ago

Subsidiary of Turkey's TPAO makes Libya oil find

ALGIERS, Oct 27 (Reuters) - A subsidiary of Turkey’s TPAO has discovered oil at two wells on a Libyan concession it operates, Libya’s NOC state oil company said in a statement on Wednesday.

It said that Turkish Petroleum Overseas Company (TPOC), a wholly-owned TPAO subsidiary, made the discoveries on the Area 147 concession, which it was awarded in 2005.

One well had an oil flow rate of 1,050 barrels per day (bpd) and the other had a rate of 1,300 bpd, said the statement posted on the NOC Internet site www.noclibya.com.ly.

TPOC holds a 9.7 percent interest in the concession, and the operatorship, with the rest owned by NOC, said the statement. (Writing by Christian Lowe; Editing by Anthony Barker)

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