Libya to start third international oil licensing round
2006-08-15
 [File] |
Libya will start its third international oil licensing round this month, the National Oil Company (NOC) said on Monday (14 August). NOC invited foreign companies to inspect data regarding 41 offered blocks on 24 August in Tripoli and on 31 August in London. Applications are due by 9 September, the list of selected companies will be known by 22 September and financial bids will be opened on 20 December. The move is part of Libya's efforts to increase oil production from 1.6 million barrels per day to two million barrels per day by 2007 and three million barrels per day in 2010.
After the lifting of US and European sanctions in 2004, 15 oil companies received licences in the first auction in January 2005. Another 44 oil exploration permits were awarded in October. (Reuters, AFP)
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