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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)

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To: Tomas who wrote (1603)	4/25/2000 4:54:00 PM
From: Tomas	Read Replies (1) of 2742

Libya Puts Upstream Oil Talks on Fast Track, Says Official NICOSIA, Apr 24 (Deutsche Press-Agentur) - Libya is speeding up upstream negotiations with international oil companies to sign several exploration production- sharing agreements over the next 12 months, according to the Chairman of Libya's National Oil Organisation (NOC), Abdallah al- Badri, the Middle East Economic Survey reported Monday. The Cyprus-based weekly publication said that the talks were put on a fast track despite the fact that the draft petroleum law been delayed by the recent government reorganisation which devolved central government ministries. The Secretariat (Ministry) of Energy has been dissolved and all matters related to the oil and gas industry have been referred to the NOC, which is holding talks with mostly European firms for exploration production-sharing agreements in the Sirte and Murzuk basins. NOC has also additional onshore and offshore blocks as open areas for international oil companies to consider. Libya's current production capacity is around 1.5 million barrels per day, divided almost equally between international oil companies and state-owned oil companies. slb.com

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