Middle East Economic Survey
VOL. LIII
No 40
4-Oct-2010
LIBYA
Libya Grants Hess Five-Year E&P License Extension
Libya announced on 23 September that it had granted the Hess Corporation of the US a five-year extension on an exploration and production (E&P) license for offshore Area 54. The block lies 480km off the Libyan coast, in the Sirte Basin. Hess acquired the license in Libyas first EPSA-IV bid round (MEES, 7 February 2005) and announced successful drilling results on the acreage...
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