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

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To: Greywolf who wrote (1842)	9/14/2000 4:09:18 PM
From: Tomas	Read Replies (3) of 2742

Libya: Lundin Shortlists For En Naga - Middle East Economic Digest, last week's issue A shortlist of five international companies has been drawn up for two contracts which form part of the first phase development of En Naga North and West oil field. The tender committee is evaluating bids submitted by the companies for the central processing facility and pipeline packages and contractors anticipate an award soon. Construction is not expected to begin before next year. Sweden's Lundin Oil, which operates the block under a production sharing agreement for International Petroleum Libya, initially invited some 20 companies to bid for the contracts of which 11 replied. The names of the five prequalifiers have not been given, but are understood to include Consolidated Contractors International Company (CCC) and Joannou & Paraskevaides (I&P - Overseas). Both Athens based. Contractors estimate that the packages are worth between $80 million- 100 million in total. The central processing facility is to be offered as an engineering, procurement and construction package and is estimated to be the more valuable of the two contracts. The second contract covers construction of a 100-kilometre pipeline running from the field to join up with the Waha network. Materials will be procured by the client. Works on both contracts are expected to take six-seven months and are to be carried out in parallel. The UK's Troy Petroleum Management Services is providing technical assistance for certain parts of the scheme. En Naga field is located on block NC177, in the southern Sirte basin. Production of 41 degrees API crude oil is targeted to begin in the first quarter of 2001 at a level of 16,500 barrels a day.

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