Libya offers Asian, European companies 44 oil exploration licenses

The national establishment for oil in Tripoli on Monday announced that Libya offered 44 sea and land areas for oil exploration to Asian, and European companies, at a bid.

Some 51 companies took part in the bid. Japan got the lion's share as five Japanese companies including " Mitsubishi " and " Nipon Petroleum " got at least one contract. The Italian "Anne Gas" company won four contracts exceeding the British group "British gas" which won three contracts.

The French "Total" company won one contract at a rate of 27.8% of the total project and also among the winning companies the two Indian companies "Oil India " and " Indian Oil" and the Norway's group" Stat Oil," the Indonesian Group " Petromin." The Chinese company " CNBC International " got the highest participation rate of 28.5%.

The official at the national establishment for oil said that the American Exxon Mobile " won in collaboration with the Japanese "Nipon" and the French "Pteromin" a contract in the center of the country. British Petroleum in collaboration with "Petromin" and "India Oil" won two contracts in Sert, while the Italian "Anne Gas" in collaboration with "British Petroleum" won two contracts in Kofra fields and companies from France, Norway and Russia won contracts in Marzouk fields west of the country.

The official news agency JANA reported that "Chairman of the Bids Committee Abdulrahman A Ben Yeizza .. indicated that the contracting areas consist of 44 blocks covering an area of 102000 sqkms in the basins of Sert Ghadames Mourzuk alButtnan Plain and alKufra in addition to the off shore areas He said that the companies work will include drilling 35 oil wells. He pointed out that the required investment value to carry out this work is about 48245 million dollars."

The Libyan oil whose reserves are estimated at 30 billion barrels is known for its cheap explorat costs. It is a base of light crude and enjoys a low sulfur conent as preferred by oil refineries.