Entrants, returnees to Libya face tight equipment market

Libya’s plan to nearly double its oil production to 3 million b/d by 2010-11 is off to a rousing start with successful licensing rounds and the return of US operators exiled in 1986.Operators evidently are not yet at the point of kicking off drilling programs on newly won or reoccupied acreage. Only 8-9 rotary rigs have operated in Libya for the past several years, and no change is apparent in the most recent months. The land rig market in North Africa is reported to be tight (OGJ Online, Jan. 11, 2006).Libyan officials expressed hope late last year that operators will drill 50 wildcats/year in the next 5 years and undertake large seismic programs (OGJ, Oct. 24, 2005, p. 39). A tigh...

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