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Exxon, ONGC and Inpex Win Libya Oil Blocs - ASHARQ AL-AWSAT English Archive
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TRIPOLI (Reuters) – Three blocs that drew only single bidders in Libya’s latest oil exploration round were awarded to Exxon, ONGC and Inpex on Sunday, the country’s state National Oil Corporation said.

Exxon Mobil Corp. was awarded a 22.3 percent share in four wells, India’s Oil & Natural Gas Corp. a 28 percent share in one well and Japan’s Inpex Holdings Inc. 12.9 percent of three wells, NOC said.

Russia’s Gazprom and Tatneft won the bulk of licences in the round last week.

Libya wants to attract foreign investment to help it hike its oil output capacity to more than 3.0 million barrels (bpd) per day by 2010/12 from about 1.6 million bpd at present.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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