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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden) -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (1352)	11/15/1999 4:54:00 AM
From: Tomas	Read Replies (1) \| Respond to of 2742

Libya Asks Foreign Oil Companies to Develop Fields, MEES Says London, Nov. 15 (Bloomberg) -- Libya, the eighth-biggest producer in the Organization of Petroleum Exporting Countries, plans to open 80 onshore and offshore fields to foreign investors, who can now return after the suspension of United Nations trade sanctions, the Middle East Economic Survey reported. Libya's National Oil Corp., or NOC, sent a letter of invitation to the oil companies asking them to indicate the blocks in which they are interested. The foreign companies will be offered exploration and production sharing agreements, which will give them part ownership of the oil they find and produce. Libya's decision in April to hand over two suspects in the 1988 Lockerbie air disaster cleared the way for seven-year-old sanctions to be lifted, removing hurdles in obtaining finance and shipping some machinery to the nation.