Tripoli awards gas permits

10 December 2007
Libya’s National Oil Corporation has awarded permits in its first gas exploration licensing round to Algeria’s Sonatrach, Russia’s Gazprom, the UK/Dutch Shell Group and Poland’s Polskie Gornictwo Naftowe i Gazownictwo.

Although four licences were signed, a further six did not get any bids.
The largest award in the round went to Sonatrach, in association with Oil India and Indian Oil, which won rights to four blocks covering 6,934 square kilometres in the Ghadames Basin.
Gazprom was awarded three exploration blocks totalling 3,936 sq km in the southern part of the basin.
Shell signed two blocks covering 1,790 square kilometres in the Sirte Basin, while Polskie won two blocks of the Murzuq Basin.
NOC chairman Shokri Ghanem said that more awards from the round may be announced before the end of 2007 as Libya had originally offered 41 onshore and offshore blocks.
Earlier on 10 December, Petro-Canada said it had signed contracts with NOC converting existing exploration and production deals into new agreements.
The two firms will jointly develop major fields and exploration programs in the Sirte Basin, with the Canadian firm taking a 12 per cent share of production.
The development requires about $7bn of investment and Petro-Canada will pay an extra $1bn over three stages.

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