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

To: Greywolf who wrote (1990)	1/22/2001 10:36:20 AM
From: Tomas	Respond to of 2742

Libya: Lundin prepares to award En Naga - Middle East Economic Digest, January 19 Sweden's Lundin Oil plans to award by the end of January two engineering, procurement, installation and construction (EPIC) contracts on the En Naga north and west oil field development. Four international companies are competing for the $30 million packages to build central processing facilities and a pipeline. Works on both contracts are expected to take six-seven months and are to be carried out in parallel. The bidders include Consolidated Contractors International Company (CCC) and Joannou Paraskevaides (J&P - Overseas), both Athens-based, and Italy's Bonatti. A fourth, Tunisian-based, company is also involved in bidding. Lundin Oil awarded last September Germany's Thyssen Krupp Stahlunion the contract to supply 94.5 kilometres of 12-inch linepipe for the development (MEED 29:9:00). The 100-kilometre pipeline will link the En Naga field - located in Block NC-177 in the southern Sirte basin - with the El-Sider terminal on the Gulf of Sirte. Lundin Oil has completed the design engineering in-house with some technical assistance provided by the UK's Troy Petroleum Management Services. The development is being 50 per cent financed by the National Oil Corporation (NOC). The company has three existing production wells at the En Naga field and plans to drill a further five wells this year. Production of 410 API crude is planned in the first phase at a rate of 15,000 barrels a day (b/d), climbing to 24,000 b/d in the second phase. Lundin Oil - in partnership with Italy's Edison Gas - is seeking to increase its Libyan production further, acquiring new acreage in NOC's licensing round, due to close on 15 January (MEED 18:8:00).