Middle East Economic Survey

VOL. LII

No 6

9-Feb-2009

LIBYA

Libyas Exploration Drive Falters

It has been four years since Libyas first EPSA-4 bid round, the first of four tenders that saw dozens of international oil companies (IOCs) acquiring exploration acreage, with some accepting an unexpectedly low share of future production in order to do so. The license awards led to a burst of seismic and drilling activity, both onshore and offshore, with some significant successes, notably for Canadian firm...