Middle East Economic Survey

VOL. L

No 48

26-November-2007

LIBYA

ExxonMobil Negotiates Four Libyan Offshore Blocks With NOC

ExxonMobil is the latest oil major to have picked up exploration acreage through bilateral negotiations with the state-run National Oil Corporation (NOC), signing an Exploration and Production-Sharing Agreement (EPSA) on 19 November for Area 21, in the offshore section of Libyas Sirte Basin. It consists of four blocks, covers 2.5mn acres and runs to water depths of more than...