Libya starts bids for licenses for oil exploration

On Monday, Libya announced bids for oil exploration in its land and sea, the first bids of their kind since the lifting of the American sanctions.

The Libyan government bided 15 sea and land areas in one of the most attractive regions for companies.

The Libyan national oil establishment, owned by the government, said from that January 10th, 2005 is the deadline for receiving the exploration offers while participation in production will be signed in the second half of the same month.

A Libyan official said that this is the first time in which the door is open before companies to compete on privileges in the context of exploration and taking part in the production contracts.

This is also the first time in which the American companies are permitted to compete for oil contracts in Libya, following the lifting of the American sanctions by the end of April.

Meantime, and concerning Libyan- American relations, member of the foreign affairs committee at the US Congress, the democratic congressman Tom Lantos said in a press conference in Tripoli after he had met with the Libyan President col. Muammar al-Qathafi that relations between the two countries will return to normal by the beginning of 2005.