Manufacturing Industry
LIBYA: Joint venture contract award for planned $110,000,000 oil and gas exploration project, WOODSIDE PETROLEUM LTD. [Australia], REPSOL-YPF [Spain] & HELLENIC PETROLEUM SA [Greece] - Order #: 015704.
WWP- Report on Oil Gas & Petrochemicals in the Developing World, January, 2004
PROJECT OVERVIEW:
As a result of the lifting last September of the 10-year old U.N. sanctions that were imposed on Libya the local state-owned NATIONAL OIL CO. recently awarded an oil and gas exploration contract to an international consortium. The partners in the planned undertaking and their respective shareholdings include WOODSIDE PETROLEUM LTD. of Australia (45%) that will also act as operator, Spain-based REPSOL-YPF (35%) and HELLENIC PETROLEUM SA of Greece (20%).
According to the terms of the 30-year agreement the partnership will, during the first 6 years: - Explore for oil and gas in 6 blocks located in the Marzouq
desert 740 kms south of the capital as well as in Sirt 370 kms
west of Tripoli. The minimum exploration...
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