LIBYA

Braspetro Abandons Concession in Mursuk Basin 

Braspetro, the international subsidiary of Brazil's state-owned Petrobras, has decided to relinquish its concession in Block NC-58 in the Murzuk basin in southwestern Libya to the country's National Oil Corporation (NOC) because of the lack of commercial deposits in the tested structures which discourage the continuation of exploration in the area. Braspetro had run 8,000 kms. of seismic lines and drilled six wells in the...