Libya Designates Areas For Exploration - Africa News Service, November 19
Tunis - Libya's National Oil Corp. (NOC) has designated 80 onshore and
offshore blocks as open areas for international oil companies under
Exploration Production Sharing Agreements, or EPSA-111, the Middle East
Economic Survey reported Monday. An additional 15 blocks located primarily
in the Sirte and Murzuk Basins are the subject of talks between Libya and
international companies.
The Libyan NOC's Joint Venture and Operation Department procedure was to
send a letter of invitation to the companies, asking them to review the open
blocks and indicate areas of interest.
Two weeks ago, NOC awarded an addition to the existing EPSA for blocks
NC-186 and NC-187 held by a European consortium. The consortium includes
Austria's OMV with 23%; Repsol YPF 32%; Total Fina with 24%; and Saga with 20%.
The new block, called M4, covers an area of 12,300 square kilometers and is
located to the north of block NC-186.
___________________________________________
Irish Oil Exploration Company Expanding Partnerships
Africa News Service, November 19
Tunis - Bula Holdings Plc, an Irish oil exploration company, is speaking to
Oilinvest Group about including a third party partner to aid in oil exploration in
Libya.
As October closed, a Bula spokesperson stated the company was in talks
with Oilinvest Group to establish a strategic partnership, with the object of
entering into oil exploration and production activities in Libya, and also
worldwide. |
