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COPYRIGHT 2005 Hart Publications, Inc.
U.S.-based companies did quite well in the first licensing round held by Libya in some 20 years. Occidental Petroleum, ChevronTexaco and Amerada Hess all won blocks in the highly competitive offering. In all, 15 licenses were awarded which the Libyan government estimates involves 3 billion barrels of oil.
Occidental Petroleum dominated the offering with nine successful bids, winning interests in five onshore and four offshore blocks. Liwa, a unit of Abu Dhabi, partnered with Oxy in its successful bids for onshore blocks 131 and 136 in the Murzuq Basin, blocks 106 and 124 in the Sirte area, and Block 59, near Libya's border with Egypt. A consortium that includes Oxy, Liwa and Australian firm Woodside Petroleum Ltd. was awarded offshore blocks 35, 36, 52 and 53 in the Gulf of Sine. Woodside will operate those licenses.
ChevronTexaco took Block 177 in the Marzouk Basin, south of Tripoli, and Amerada Hess won offshore Block 54 in the Gulf of Sirte. Other successful participants were India Ltd. and India Corp., which won Block 86 in the West Sirte region; tiny Verenex Energy Inc., from Canada, which took Block 47 in the northern Ghadames Basin in partnership with PT Medco of Indonesia; and Algier's Sonatrach, which was awarded onshore Block 65 in the Ghadames Basin.
Petrobras won a contract to explore offshore Block 18. Its 30% partner is Oil Search Ltd., an Australian...
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