TotalFinaElf targets Libyan expansion

Franco-Belgian oil combine TotalFinaElf SA has entered into negotiations with the Libyan government with a view to expanding its acreage holdings in the Middle East state and bidding for new blocks in Libya's upcoming licensing round, according to the official Organization of Petroleum Exporting Countries news agency, OPECNA.

Sep 5th, 2000


PARIS�Franco-Belgian oil combine TotalFinaElf SA has entered into negotiations with the Libyan government with a view to expanding its acreage holdings in the Middle East state, and bidding for new blocks in Libya's upcoming licensing round, according to the official Organization of Petroleum Exporting Countries news agency, OPECNA.

OPECNA reports that TotalFinaElf has confirmed it was in talks with Libyan authorities to build on its interests in the Mabrouk field, which it operates, and the Al Shahra development. The Franco-Belgian company is also currently carrying out exploration work in Libya's Murzuk basin.

The new licensing round, understood to cover some 130 blocks, of which 20 are offshore, has attracted the interest of oil companies including Sweden's Lundin Oil AB, Italy's Edison Gas, and UK independent Lasmo PLC. Lundin has existing interests in the En Naga North and West developments.

According to OPECNA, Royal Dutch/Shell is in ongoing discussions with the Libya's National Oil Company to enlarge its presence in the country's E&P scene.

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