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

To: Tomas who wrote (2160)	3/10/2001 1:12:56 PM
From: Greywolf	Read Replies (1) \| Respond to 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

To: Tomas who wrote (2160)	3/14/2001 9:30:34 PM
From: Tomas	Respond to of 2742

Oil exploration offshore The Falkland Islands From Investors Chronicle (UK), March 9 ... Desire Petroleum is the largest licence holder in the offshore North Falkland Basin where it has 100 per cent interests in four large blocks and 13 per cent of a fifth. The first round of drilling in 1998 proved disappointing. Subsequent data interpretation suggests that up to 60bn barrels of oil was generated and then expelled from the rich source rock encountered in the wells. So, where did it go? One suggestion is that the wells were not drilled deep enough and large fault blocks could mean that the oil migrated to shallower water: perhaps 20km offshore and at water depths of under 100km whereas the wells drilled were in water depths of 200m to 500m. Desire is now looking for farm-in partners.