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

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To: Tomas who wrote (2160)	3/10/2001 1:12:56 PM
From: Greywolf	Read Replies (1) of 2742

Lundin Oil puts Libya field on the launchpad Swedish independent Lundin Oil has awarded Tunis-based Petroleum and Industrial Realisation Contractors the job of building the processing facilities and pipeline for its En Naga North and West oilfield development in Libya, writes Nassir Shirkhani. The awards pave the way for first oil production from the field later this year. Germany's Thyssen Krupp Stahlunion will supply 95 kilometres of pipe to pump crude from the En Naga field to Libya's national export system on the Mediterranean coast. "The award of these contracts is a significant step towards bringing the En Naga field into production. We can now expect with a reasonable degree of certainty the achievement of first oil before year end," said Lundin president Ian Lundin. The pipeline will run to Waha Oil's Samah production facility, from where an existing trunkline can transport the oil to the Es Sider terminal on the Gulf of Sirte. En Naga is scheduled to produce about 15,000 barrels of oil per day in phase one, rising to around 24,000 bpd after a second phase. Upstream

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