Libya awards 15 exploration blocks in licensing round

02/07/2005
Libya's National Oil Corp. (NOC), in its first licensing round since US sanctions were lifted last spring, has awarded 15 exploration permits to 12 non-European companies out of a field of 56 international operators that prequalified to participate in the auction.More than 120 companies had applied for the auction acreage, which covers 126,646 sq km. Of the 15 blocks, 9 are onshore in the Ghadames, Sirte, Cyrenaica, and Murzuk basins, with 6 offshore.The auction saw the return of US companies to the country after more than 18 years of absence following US economic and political sanctions since 1986. The high quality of Libya's light, sweet crude, which is ideal for gasoline produc...
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