Tag Archives | EPSA IV

NOC Accuses Wintershall of Interference in Libyan Politics

By John Lee. Libya's National Oil Corporation (NOC) has accused Germany's Wintershall, a subsidiary of BASF, of trying to interfere in Libyan internal politics and to take advantage of the weakness of the state. In a statement, the NOC referred to a memorandum of understanding (MOU) signed on August 26, 2010, which extended Wintershall’s 50-year […]

Libya to Sweeten Terms for Foreign Oil Companies

Reuters reports that Libya plans to improve the terms for foreign oil companies ahead of its next licensing round, which could begin as early as the third quarter of 2013. OPEC member Libya has reserves of over 40 billion barrels, but analysts have warned that some of the toughest terms in the business could act […]

Libya May Seek New Oil Bids

Libya’s new Oil and Gas Minister, Dr. Abdulbari Alarusi [Al Arusi], has said the country could proceed with a new round of oil exploration and production agreements, but the priority for now is to maintain pre-war output levels. Speaking to Reuters, he said: "Our priority is to maintain the production at 1.5 million barrels per […]

EPSA 4 Model "Not a Viable Option" for Libya

In 2005, when the first exploration round came out, Libya appeared to be very attractive and companies bid competitively. Dr. Charles Gurdon, Managing Director of MENAS Associates, recently participated in an interview with The Energy Exchange to discuss Libya's options to attract IOCs as well as the opportunities that present themselves for IOCs in North […]