Libya Offers Oil Exploration Packages to Foreign Firms
NICOSIA, July 31 (BridgeNews) - Libya's National Oil Corporation has announced that three exploration packages have been put together for consideration by international oil companies (IOCs) that qualify to bid in accordance with the terms of the EPSA-III production sharing law, the Middle East Economic Survey reported Monday.
The packages were put together with a view to persuading companies to explore less attractive acreage by grouping it with more attractive blocks, MEES said.
Each of the packages contains blocks in both the Sirte and Murzuk basins, along with underexplored offshore acreage and blocks in the virtually unexplored Cyrenaica and Kufra basins.
NOC invited companies qualified to enter into EPSA to submit applications for one or more of the packages by July 28. NOC also said companies could add extra blocks from the open area map and that companies could customize packages to the specific interests of each individual company, provided that none of these packages included blocks included in the above-mentioned packages.
It is expected approximately half of the firms that attended the meeting in Tripoli last May will submit bids to NOC.
The three packages are as follows:
--Blocks M1, O9, O10, S36 and an area to be selected in the Kufra Basin.
--Blocks S25, C5, C6, C7 and G20 (Block G20 was added after the May meeting with IOCs).
--Blocks S11, S59, C3, O12 and O13.
slb.com |
