Taiwan group to invest in Libya oil exploration
"After more than six months of efforts amid fierce competition, CPC has won a bid for exploration in the southern Murzuq 162 oil field," a CPC spokeswoman said.
The Murzuq field is estimated to have some 500 million barrels in reserves, the spokeswoman said.
She said CPC will set up a subsidiary in Libya for future exploration.
The company is scheduled to sign an agreement with Libya's National Oil Co. in mid-January of 2007 to finalise the project, the spokeswoman added.
Contact us |
About us |
All material copyright Business in Africa. All rights reserved. Material may not be published or reproduced in any form without prior written permission. Read these terms & conditions. Read our privacy statement and security statement. Powered by Mail & Guardian Online & iafrica.com. The domains businessinafrica.net, energyinafrica.net are owned by Business in Africa.