Indian Oil Corp along with OIL and ONGC Videsh, will take part in the second round of oil and gas
blocks bidding in Libya.
The bids for the second round will open on 2
October 2005. Libya has offered 44 blocks in the second round of bidding under
the Exploration & Production Sharing Agreement.
In the current round of bidding, Libya has offered
ten offshore blocks, eight blocks each in Cyrenaica, Murzuq and Kufra
basins, six in Sirt Basin and four in Ghadames basin.
The Sirt Basin has 80 per cent of Libya's oil
reserves and 90 per cent of its production. The region is also expected to be
the focus of most exploration companies.
Also See:
IOC, OIL sign pact to explore in Libya
(22-Mar-05)
intpetro