A new oil law and a bidding round are on the way, says NOC chairman Nuri Berruien. Even without these, major new producing provinces, including a massive expansion of offshore gas production, are poised to be unlocked.
Speaking at the Libya Oil and Gas Forum in Istanbul last week just a few days after a string of incidents, including a 19 May attack on the Mellitah gas plant which left one guard dead, Dr Berruien said security problems have been exaggerated. The drilling of 19 exploration and appraisal wells, and acquisition of “more than 2,000 sq km of (3D) seismic” since October 2011 is proof oil companies can do business in post-revolutionary Libya, he added. (CONTINUED - 1602 WORDS)