Libya groups 14 exploration blocks together for latest licensing round

Jul 19, 2000 02:00 AM

In an attempt to widen the scope of exploration within the country, Libya has grouped together 14 exploration blocks into three packages for its latest licensing round, mixing prime acreage with high-risk areas. According to industry sources, data rooms for the blocks are now open to oil companies, which pre-qualified for the licensing round.
Libya's National Oil Company (NOC) previously said it was opening up around 70 % of its land to exploration, outlining at least 137 blocks. The company also said that it was likely to favour bids linking low risk areas with frontier acreage.

The first package, with blocks in the oil-rich Murzuk basin, is set to be a prime target for oil companies, although it also comprises an as yet undefined area in the little-drilled Kufra Basin in the south-east. The package is made up of M1, a block in oil-rich Murzuk basin, offshore Mediterranean blocks O-9 and O-10, block S-36 in the Sirte basin and an undefined area in little drilled Kufra basin in the south-east.
The second package holds S-25 in Sirte, C-5, C-6, C-7 in the Cyrenaica Basin, in the north-eastern part of the country and Ghadames Basin block G-20. The third package consists of Block S-11 and S-59 in the Sirte Basin, C-3 in Cyrenaica and offshore O-12 and O-13 close to the Egyptian border.

Source: Energy24
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