VOL. XXXIX

No. 36

6-June-1996

LIBYA

Libya Signs E&P Deal For Onshore Block

Libya's National Oil Corporation (NOC) has signed an exploration and production-sharing agreement with a consortium consisting of PanCanadian Petroleum Limited, Clyde Petroleum of the UK and Yukong Limited of South Korea. Pan- Canadian will act as operator and hold 75% of the shares while Clyde will take 15% and Yukong 10%.

The specific location of the block has not yet been identified, but it is an onshore...