Print PDF

Based on the frozen assets of Occidental International in 1986 and in compliance with the regulations of the General People's Committee Decision No. 351/1986, dated on Ramadan 24/1395 (June I, 1986), Zueitina Oil Company was incorporated as a Libyan owned Company with a mandate to carry out the whole range of oil operations at the provided areas in accordance with the concession contracts which are subjected to the Joint and Sharing Agreements made between the National Oil Corporation (NOC), Occidental International, American, and OMV Libya Ltd. of Austeria.

After the termination of the frozen period and the return of partners, EPSA 4 Agreement was signed on 23 June 2008.

The development of the Company in a chronological order:

Ownership Operator The event The year
Occidental  100% Occidental – Libya Production started from
the fields of Sharing                                                                       Contract 103
1968
NOC 51%
Occidental 49%
Occidental – Libya Occidental was nationalized 1973
Sharing 19% - 81% Occidental – Libya Production started from
field 29c- one of the first
Sharing Agreement Fields.
1976
Joint venture
NOC 51%
Occidental36. 75%OMV 4.75%
Occidental – Libya The selling of 25% from
Occidental share
1985
Joint ventures
NOC 51%
Occidental 36. 75%
OMV 12.25%
Joint ventures
NOC 81%
Occidental 14.25%
OMV 04.75%
Zueitina Oil Company Freezing the activities
of Occidental and
establishing Zueitina Oil
Company
1986
Operational budget
NOC 88%, Partners 12%
Capital budget
NOC 50%, Partners 50%
Zuetina Oil Company Signing EPSA
Agreement
2008

 

Organization Chart

The activities of Zueitina Oil Company are administered by a Management Committee (MC) which consists of a Chairman and four Members. All necessary authorities needed for accomplishing the works and the tasks related to the targeted objectives of the Company are run in compliance with the law regulations and the general oil policy of the country.

 

Features and Numbers

  • The Company production is 58,000 barrels per day (bpd); this is in addition to 12,000 bpd – the Company Owners' share in Nafoura Unit ,Ojla – as well as the manufacturing of nearly 24,000 bpd through the gas condensers.
  • The average generated power production in the Company's Fields and Terminal is 42.0 megawatts per day.
  • The amount of desalting water in all the Company's Fields and Terminal is 1350 cubic meter per day.
  • The Company's workforce, as in the first quarter of 2009, is 2474 employees, among which are 2264 local employees.
  • The Company's crude oil - considered among the best Libyan crude oil and has been called "Zueitina Blend" in the international market since the latest sixties- is exported via Zueitina Terminal.
  • Zueitina Terminal is also used in exporting crude and the shares of other Companies such as: Eni, Wintershall Co. and OMV,
  • The Company is handling up to 20% of the country's crude oil via Zueitina Terminal.
  • Zueitina Oil Company supplies the local market with all its needs of liquefied gas (cooking gas) through Brega Oil Company. Quantities of this gas are also exported outside the country.

 

 

Drilling and production in brief

The first Well that was drilled by the Company (A102) on 28.7.1961 was not productive.

The first commercially productive well (D1-102) was drilled on 05.09.1966:
Crude Oil : 9,691 bpd
Gas: 522000 cfpd


In 1976, the Well (D1) in field (103 D) registered one of the top production rates in the world which was 74,867 bpd.

At the beginning of 2004, advanced drilling technologies (horizontally, curved, directional and multiple) were approved and, consequently, wells production was multiplied into an average of three to four times. Such a rate would not have been possible, if these wells had been drilled vertically.

Company Sites

Main Office (Tripoli)
Sidi Issa Street
Al Dahra
Tripoli

Purchasing and Materials Department
Tripoli

Customs Service Office
Benghazi

Zueitina Terminal

Intisar (Sharing) Oil Fields
- 103 A Field
- 103 D Field
- A number of other small undeveloped discoveries Fields

EPSA Oil Fields
- 29C Oil Field
- Zella Oil Field
- Sabah Oil Field
- Fidda / Hakim Oil Field
- A number of other small undeveloped discoveries Fields


natural gas price