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

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To: Tomas who wrote (1645)	5/11/2000 10:15:00 AM
From: Tomas	Read Replies (1) of 2742

Shell seeks deal in Libya after nine-year absence LONDON, May 11 (Reuters) - Oil giant Royal Dutch/Shell confirmed on Thursday it is looking to rekindle its presence in Libya, nearly nine years after pulling out of the country. Libya's National Oil Company held a one-day meeting on Wednesday attended by around 48 foreign oil companies to outline terms and acreage for an oil and gas exploration licensing round. ``Yes, we had been invited and Shell was represented,'' said a Shell spokeswoman in London. ``We are interested in future oppportunities there.'' Shell left Libya in 1991 after relinquishing acreage in the Ghadames Basin when it failed to make commercial finds on onshore Block NC-153. It operated the tract after buying into an 80 percent stake from Italy's Societa Energie Montedison. It had earlier drilled a dry hole on Block NC-147 which it relinquished when bought into the Italian firm's tract in 1990. OPEC member Libya has been making a concerted effort to attract foreign oil firms back into the country after the United Nations suspended sanctions last year following the handover for trial of two Libyan suspects accused of blowing up an airliner over Lockerbie, Scotland. biz.yahoo.com

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