| 2005-08-18 |
Îïóáëèêîâàíî: Business Petroleum (VPS) |
Mr. Sergey Vorobyov, Deputy Chairman of ITERA Management Board, said the company planned to participate in tenders on exploration and development of oil and gas blocks in Libya
According to Mr. Vorobyov, the company has qualified for the tenders, and ITERA is now in the process of choosing oil and gas blocks of interest to it. Mr. S. Vorobyov pointed out that ITERA planned to participate in tenders independently. Earlier, the company considered participation in the tenders together with Tatneft, because the two companies had signed a strategic partnership agreement. New Libyan tenders may take place in October. The second Libyan tender on 40 contracts is underway for oil and gas blocks to be explored and developed by foreign companies. Winners in development tenders on 15 oil and gas blocks have been announced in Tripoli. Most of them were American companies. The total number of 120 companies, including 17 American ones, applied for the tenders. LUKOIL was interested in Libyan tenders as well.
Foreign participation in on Libyan hydrocarbon resources development became possible after the UN sanctions were lifted in April of 2004. Libya, an OPEC member, was going to raise about USD 30 billion of investments for its oil production industry and to double its production capacity from 1.6 to 3 million barrels of oil per day.
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