American citizens can now easily travel to Libya

American citizens can now be granted a tourist visa at the airport without having to apply for visa at Libyan embassies or submit an application form along with the full long list of requirements.

our business partners in Libya have confirmed the new step which was taken by the Libyan government to ease the time consuming and delays in issuing visas to Libya.

Therefore, any American citizen who wishes to travel to Libya please let contact us in order to assist them to visit Libya.

Plane crash in Tripoli, Libya 'kills more than 100 on board'

Plane crashed today 12 May 2010, just minutes from landing at Tripoli International Airport

Visa ban is lifted

Libya on Saturday evening announced that a visa ban on Europeans to visit Libya is now lifted and all nationals from the 25 European countries are allowed to enter Libya after EU president Spain said a Swiss-instigated visa blacklist against 188 Libyans in those countries had been scrapped.

This is good news for businesses, I am glad it has now been sorted and all should be back to normal.

كوميدياء الشارع الليبي

كوميدياء الشارع الليبي لو تتجسد في الجانب العملي ستكون الأفضل لكن
:هـــــات من يفهم المهم أنخليكم مع هدا الإبداع


ثلاثة تدعو لهم بالهداية : البلعوط ..والمحسدي.. والخنايسي
....يكفيكم شرهم الثلاثة


ما تستغربش منهم في ليبيا : واحد قاص السريع على رجليه..... وواحد
...... يسوق في الاتجاه العكسي ..... وواحد طالع في الاحمر

ثلاثة كان مشوا تتمنى ما عادش يولوا : الفقر ..والمرض.. والبنت كان تزوجت


ثلاثة تتمنى ما تصبحش فيهم : سواق افيكو مستعجل....وطابور طويل في
الشيل.... والمدير المتعارك مع مرته


•ثلاثة صعب نتخلى عنها : الماء...والهواء...والبازين

ثلاثة محتاجات واسطة : البعثات..والشقق...وأى مصلحة إدارية تبي
تقضيها


• ثلاثة يرفعوا الضغط : الملح..وزحمة المرور..والعيل كان عشش


• ثلاثة تسبب الغرور : الفيلا... والهامر..وبدلة الحرس البلدي


ثلاثة ياكلوا في لحوم البشر: الحيوانات المفترسة....والبزناسة

. . ... الكبار ... وجماعة القرمة كان شبعوا


تلاثة لازم نتخلى عليهم : التفنيص.. والتلقيح....واللُّـقني وقت العمل



ثلاثة ما يرقدوش الليل : المديون.. والخانب.. وواحد نايضة عليه
السوسة


ثلاثة شبه اختفوا من ليبيا : الدلاع الطويل.. واحترام الشيابين
....والفراشية

ثلاثة ما تحسش بطعمتهم الا في ليبيا : امبكبة على
الحطب....وبورديم.....وشاهي العاله

ثلاثة ربي يفكك منهم : مجاري مفتوحة......وكلب مطلوق .....والرشادة
الطايشة


ثلاثة ما ليهمش معنى إلا في ليبيا : العسلوز.. والزميطة.. والعصبان



• ثلاثة لا تستخدم إلا في ليبيا : الحمّاس..والكانون..والمغرف

New SOC Libya's website

We are pleased to announce the realising of our new version of SOC Libya’s website www.soclibya.com . Please have a look and share your thoughts with us on any aspects of the website

Libyan govt plans 32 pct budget spending increase

Libya plans to increase budget spending by 32 percent to a record 58 billion dinars ($46.6 billion) this year, a government spokesman said on Wednesday.

The government did not give a reason for the increase but some other energy exporting countries have been ramping up public spending to try to prevent the fall in world oil and gas prices from curbing economic growth.

Government spokesman Mohamed Bayou said the spending figure was contained in a 2010 budget law being prepared by the General People's Committee, as the government is known. Last year's budget spending was 44 billion dinars.

Bayou said the government in Libya, home to Africa's biggest proven oil reserves, continued to subsidise some consumer goods and that it was committed to continuing investment in infrastructure and public services.

"The budget for this year will be about 58 billion Libyan dinars," Bayou told Reuters after a session of the General People's Committee. "This is the biggest budget."
He also said the government would be spending 82 billion dinars ($65.86 billion) of budget funds over the next three years on development and infrastructure projects.
CASH PILE

Libya has room to manoeuvre on spending because it built up substantial reserves during several years of high oil prices.

Asked about the increase in budget spending, Sami Zaptia, an analyst with the Know Libya consultancy, said: "This is quite a big jump but really Libya has a lot of savings. It's sitting on a pile of cash."

He said the recovery of the oil price in the past few weeks to about $70 a barrel had reassured the government. "Money is coming in therefore we can afford to put our foot down and raise spending," he told Reuters.

"We need to finish ring roads, housing, the airport, to push ahead with the plan to have more tourists, be a hub for north-south travel and diversify away from oil."
Libya's gross domestic product (GDP) grew 3.37 percent in 2008 but it fell back to 1.75 percent last year, according to International Monetary Fund data. The fund forecasts 5.2 percent GDP growth in 2010.

Libya's government is in session this week to discuss implementation of decisions adopted earlier this year by the General People's Congress, or parliament.
The spokesman said the government was also preparing to issue laws, approved by parliament, on encouraging investment and organising economic activity, though he did not give specifics about what the legislation would contain.

The laws "will set out a clear, appropriate legislative framework for the diversification of the Libyan economy," said Bayou. "The target is to achieve economic stability in Libya."

Libya, which has been led since 1969 by Muammar Gaddafi, has been trying to reduce its dependence on oil and gas exports. As part of that effort it has taken steps to open up its economy to foreign investment outside the energy sector.

International energy firms including BP (BP.L) and Exxon Mobil (XOM.N) have invested billions of dollars in Libya. The North Africa country is also starting to attract foreign investment to its retail, construction and financial sectors.

Source: Reuters

Libya's NOC report of 2009 activities

NOC has just published a report about its activities in last year and was written in Arabic language and here is a translated version of some of the important aspects of the report.

During last year 2009 there were 64 exploratory wells onshore and offshore activities in Libya reported by Libya’s NOC and it was successful in 33 wells and the overall percentage of success was 51.5% in which resulted in 20 new oil and gas discoveries adding 2.03 billion barrels of oil and 1.3 trillion cubic feet of gas to Libya’s reserves.

Libya, for the first time in the history of exploration activities in the Libyan deep water of more than 200 meters, also started an exploratory drilling in deep water.

In Seismic activities, too, there were more than of 12.784 km in length and 55.000 KM square of 2D and 3D seismic data collected on onshore and offshore, and all data recorded showed a high quality and unprecedented in the history of exploration activity in the Libya.

Source: NOC and Translated by SOC Libya

Libya approves free trade zone approved

Libya's main legislative body has approved a law setting up a free trade zone on the country's Mediterranean coast, Saadi Gaddafi, a son of the Libyan leader Muammar Gaddafi, told Reuters on Sunday.

The zone will have free movement of capital and goods, its own courts and a stock exchange, and investors there will benefit from a 10-year tax holiday, according to a copy of the law seen by Reuters.

The idea of the free trade zone has been in development for several years, and a Dubai-based property developer had said it plans to be involved, but progress has been slow.

Saadi Gaddafi, a businessman who is likely to be director of the zone's board, said the zone was needed to stimulate investment outside Libya's oil and gas sector.

"Although Libya has other sources, we still depend primarily on oil," he told Reuters in an interview. "We have to take care of industry, foreign investment, tourism and we also have to search for other sources ... anything that makes Libya depend on sources other than oil."

He said the law on the zone had been approved by his father, was backed by his brother Saif al-Islam, who is Libya's second most powerful political figure, and had also been approved by the Basic People's Congresses, Libya's main law-making body.

Under Libya's grass-roots system of government, decisions taken by the Basic People's Congresses are automatically passed into law by the General People's Congress, or parliament.

Saadi called all Libyans and Libyan businessmen who are experts to take advantage of these benefits and the new business potential and participate and contribute to the success of the programmes and projects and work together for a better future for Libya.

The main objective of establishing such a free zone for investment with its natural environment in the development of investment solutions to be able to compete with similar economic regions in the world and to be a magnet for national and foreign investments and developments as a new management model governs the legal relations between the state authorities and the region and investors by the latest world standards of excellence in the administrative, technical, productive, professional and human

Source: Reuters and SOC Libya

A new video about Libya

A new video about Libya which I made and I hope you will enjoy it as much as my other videos. The photos are all mine so you will mainly find photos from Tripoli (my home town) and Sabratha (an ancient Roman city)

The song is called Al Shamas (The Sun) and performed by the Libyan singer Ahmed Fakroun.



العراق, الكويت , ليبيا , لبنان , مصر, موريتانيا , المغرب , قطر سورية, السودان , عمان , تونس, الأردن ,السعودية , فلسطين الإمارات , الجزائر ,
اليمن , البحرين احمد فكرون، الفنان الليبي ، المغني الليبي، Libya, Benghazi, Tripoli, ليبيا, طرابلس, بنغازي , Libyan music, ليبية
Ahmed Fakroun , Libyan singer, Libyan songs, Algeria , Yemen , Bahrain , Palestine, Iraq, Kuwait, Libya, Lebanon, Morocco, Egypt , Mauritania, Qatar, Syria, Sudan, Oman, Tunisia ,Saudi Arabia, Jordan , UAE, USA ,UK, Germany, France, Italy, Spain

NEW OIL DISCOVERY BY TATNEFT

NOC announces Wednesday 28/1/2010 that TATNEFT being partners in an Exploration and Sharing agreement, report initial information concerning the exploration well B1-82/04 New Field Wildcat in Ghadamis Basin.

The well is located approximately 345 km South of Tripoli. The well B1-82/04, drilled in Ghadamis Basin area 82 to a total depth 8,750 feet, encountered hydrocarbons in Ouen Kasa with a net pay 11 feet. The initial production testing from Ouen Kasa established an Oil Rate of 829 bbls/d , Choke Size 32/64 (Inch), Oil Gravity 37.31 API This well represents the second discovery in area 82, which was awarded by NOC in December 2005.

TATNEFT drilled the well as an operator under an EPSA agreement with NOC with interest distributed as Follows: First Party Interest (NOC Libya) 89.5 %. Second Party Interest (TATNEFT) 10.5 % (Operator)

LIBYA: ITALIAN BUSINESSES OPTIMISTIC, CLIMATE HAS CHANGED

ROME - Seven days to prepare what perhaps was the most important mission of Italian entrepreneurs and investors to Libya: one week was the amount of time that elapsed between the official communication of the mission and the delegation's departure, after the government in Tripoli asked the Italian Foreign Ministry and Assafrica & Mediterranean (the operative branch of the Confindustria in the region) to organise a visit on January 23 of top-level business representatives from the country, ranging from giants in the infrastructure sector to small and medium enterprises. Relations between Italy and Libya, reports Assafrica, have never been so positive economically and even the issues of the credit owed to 110 Italian companies seems to have been resolved, even if the distance between what is being offered by Tripoli (450 milion euros) and the money owed to Italian businesses (650 million euros) appears far apart; a gap can be closed because now the difference is the Italian government's ''problem''.

The mission did confirm that the Libyan market is not at all impermeable for Italian companies, which are actually welcomed, and downright needed. This approval seems to mainly be focussed on SMEs, which Tripoli has pinpointed to create joint companies in key areas in the food and agriculture, tourism and training sectors.

In the food and agriculture industry Italian businesses are needed in the processing and conservation sector (the Libyan Sea is among the most abundant in fish); in tourism there is a double need for Libya: increased tourism flow from Italy and to begin investment programmes from Italian players in the industry; in the training sector Libya needs to make use of an excellent school system, which now needs to be capitalised on to prepare a new generation in the technical and management sector.

Italian companies will find a highly receptive situation ''with a climate that appears to have certainly improved since I started to go to Libya in 1998,'' said Pier Luigi D'Agata, the director general of Assafrica & Mediterraneo, who led the delegation together with the president of the Italian-Libyan joint Chamber of Commerce, Antonio De Capoa. A climate that is different and better, which D'Agata translated with one phrase: ''you can detect a new willingness'', which can be seen in the receptiveness shown by Prime Minister Baghdadi al Mahmudi, who said that he will work to eliminate obstacles when he heard about the difficulties of Italian businesspeople obtaining visas, speculating that they could be granted in the airport. All this while Libya is cracking down on visas requested by European citizens.

Source: (ANSAmed).

Libya discovered seven new oil deposits in 2009

The Libyan National Oil company (NOC) announced on Thursday that seven new oil and gas deposits were discovered in 2009 in the country.

The report on activities in the oil sector released on the internet site of NOC, stressed that the oil companies which discovered those deposits were, the Austrian company, Woodside, which discovered an oil deposit in the basin of Ghadams, about 900 km South of Tripoli and the Canadian company, Verenex which discovered a gas deposit in Ghadams.

The Algerian company, Sonatrac also announced discovery of oil deposits in the basin of Ghadams, 230 km south of Tripoli, while the Spanish company, Repsol discovered on-shore oil reserves from 40 km south-west of Benghazi, 1,050 km east of Tripoli.

Similarly, the Libyan company, Golf Arabic Petroleum, discovered oil deposit at 190 km south of Tripoli in the basin of Ghadams and the Russian company, Tatnafet discovered an oil deposit in the basin of Ghadams, 345 km south of Tripoli.

The US company, Hess, also discovered onshore oil and gas in the deep seas of the Mediterranean, 56 km north of the Libyan coasts on the Gulf of Sirte central Libya.

The NOC paper also stressed the profits in terms of technology transfer made in favour of Libya by international companies which transferred their engineering works and services to the country, which enabled the NOC to promote the competences of the local staff and to develop training in that domain.

However, the secretary of NOC managing committee, Dr Shoukri Ghanem, announced recently that Libya recorded huge revenues thanks to the revision of canvassing and sharing agreements on oil production which are estimated at US$10 billion.

He also said that his country did not intend to invite companies to tender for new blocks in 2010 because of the collapse in the gross prices and the increase in invitations to tender on the global market.

Sources say that Libya, which is the third African oil producer, after Nigeria and Angola, with reserves estimated to date at 41.5 billion barrels, intends to increase its reserves to 6.5 billion barrels in 2010, with a planned production of 2.9 million barrels per day in 2015.

Tripoli - Pana

Brighton architects get recession relief from Libya

Brighton and Hove’s architecture firms have received an unusual helping hand through the recession – from Libya.

Construction projects in the oil-rich North African state have boomed since the end of UN sanctions in 2003 and designers from the city have emerged as the favoured choice.

They have been commissioned for a string of major developments, including mosques, schools and hotels, which have kept jobs secure in Brighton and Hove as the UK economy collapsed.
The unlikely link was originally forged by LCE Architects, based in Western Road, Brighton, the firm behind Brighton’s Jubilee Library.

It has since spread to involve Camillin Denny, based in New England Street, and DRP Architects, the firm behind the refurbishment of the Birdcage Bandstand.

Nick Lomax, LCE’s managing director, said: “It started in 2002, when we had a Britishtrained Libyan architect working for us who suggested we should look into possibilities there, so we did.”

Since then growth in Libya has been rapid, with the state now able to utilise the wealth from its oil and gas resources.

In the past eight years Mr Lomax’s 55-strong practice has designed a series of buildings in Libya, including a central mosque, ten faculty buildings for the Al Fateh University in the capital Tripoli and the prototype for new schools to be built across the country.

Mr Lomax said: “There are fantastic opportunities there, some exciting work, and it has been good for our practice. We couldn’t have predicted the credit crunch would happen but now it seems it was a very good decision.”

Camillin Denny, which has recently unveiled plans for a redevelopment of Medina House on Hove seafront, has worked on a series of Libyan projects since 2006.

They include a new heritage museum and university buildings in Tripoli as well as master plans for town redevelopments and a beach resort on the Mediterranean.

Director Mark Camillin said: “It has helped us to survive the downturn. We employ 40 architects in Brighton and we’ve managed to keep going because of the work there.

“There is a strong tie between Brighton and Libya. A lot of Libyans come here to learn English and have a lasting like of the city.”

He added that while the economies of Abu Dhabi and Dubai had faltered, slowing the number of projects taking place there, Libya remained financially strong.


Source: The Argus. theargus.co.uk

Noras by Ahmed Fakroun

A new song by the great Ahmed Fakroun.



ahmed fakroun, Libya, Libyan singer, Libyan songs, tripoli, احمد فكرون، المغني الليبي، اغاني ليبية، غناء ليبي

Al Maabar unveils masterplan for AED 1,400 billion Al Waha development in Tripoli

Abu Dhabi based Al Maabar, a joint venture of Abu Dhabi's leading real estate and investment companies, today unveiled the masterplan for its AED 1,400 billion (US$ 375 million) Al Waha development in Libya.

Al Maabar is implementing the project through its joint venture, Libya for Real Estate Investment and Development, with the Libyan Investment and Development Company (LIDCO) and together they made the announcement at the Skyline Real Estate Exhibition, being held in Tripoli from the 14-16 December.

In developing the masterplan for Al Waha, the project's architects, Atkins Middle East, responsible for some of the most iconic developments across the region, took inspiration from Libya's rich cultural heritage. This masterplan is inspired by three specific elements including: Ghadamis, an ancient oasis town located in West Libya famous for its enchanting multi level architecture, is reflected through the podium level Al Waha Towers; The outer fa ade of The Towers is a reflection of one of Libya's intrinsic art forms - the mosaic. This is illustrated through the use of coloured glass pieces positioned to resemble the sophisticated designs often found in the ancient cites. Lastly, a reference to Libya's oases is dramatically recreated in the form of idyllic water features and lush verdant surroundings.

On completion the ambitious development will span over 65,000 sq meters (built up area will be 265,000 sq meters), and include a 31 storey luxurious hotel, 100 serviced apartments, a 28-storey office tower, 11 mid-rise residential buildings, a health club and a shopping mall that will include a supermarket, food court and a five screen cinema.

Yousef Al Nowais, the Managing Director of Al Maabar, said: "Al Waha reflects our ambitions to transcend the mixed-used realty landscape in Tripoli. By announcing this, state-of-the-art project, we hope to meet the capital's growing needs for contemporary housing, business and entertainment areas." "We have ensured that Al Waha captures the essence of Libya's unique heritage and history in an iconic and modern urban design. The project will follow international standards and guidelines for environmental and architecture practices," he added.

Speaking on the importance of the Libyan real estate market, Al Nowais said, "Libya's unique geography and size, and the rapid modernization the country is now undertaking presents significant opportunities for real estate development. Prior to entering the Libyan market our priority was to establish a local partnership with a company that not only had excellent experience in the local realty market, but also shared our common vision and long-term goals - LIDCO has proven to be an excellent choice. Furthermore, through this partnership, Al Maabar will be able to add real value to its partner country through knowledge transfer, job creation and true collaboration." he added.

Abdul Hameed Al Dabeeba, Chairman and General Manager of LIDCO said, "We are proud to unveil the masterplan for Al Waha, which we hope will help to raise international awareness of Tripoli as a growing real estate market. We commenced work on Al Waha last year, and despite the global economic crisis that has affected the realty and financial sectors, we are progressing on budget and on schedule and are on track to complete the project as planned." "When the development becomes operational in 2012, approximately 6000 people will work and live in this community", he concluded.

Source: WAM/MAB

No new Libyan oil round for at least a year

Reuters reported that Libya has enough companies exploring for oil and will not hold any licensing rounds for at least a year as it waits for demand prospects to improve, the OPEC member's top oil official said on Thursday.

"Our effort now is to develop what we have, rather than trying to find more new oil," Shokri Ghanem told Reuters after a meeting of the Gas Exporting Countries Forum in Doha.

Asked when a new round may be held, he said: "Not before one year. When you see the demand in the world is enough to absorb the available or excess capacity, then we will move".

After years of diplomatic isolation, Libya has opened up Africa's biggest proven oil reserves to dozens of foreign energy firms in a series of hotly-contested exploration rounds.

Those companies accepted tight revenue shares and an unpredictable, opaque operating environment for access to some of the world's most promising acreage.

Lower oil prices have made for a rockier ride this year for the foreign companies investing billions of dollars in Libya. Major firms operating there include BP, ENI and ExxonMobil.
Libyan leader Muammar Gaddafi briefly raised the idea of oil sector nationalisation, and a dispute with Canadian oil firm Verenex ended with shareholders forced to sell the company to Libya.

The western-friendly Ghanem stepped down for a few weeks and his authority was challenged by a new Supreme Council for Energy Affairs (SCEA).

In another measure that rattled international energy firms, a government directive appeared stating that foreign joint ventures must have a Libyan national as chief executive.
Ghanem, chairman of Libya's state National Oil Corporation (NOC) since 2006, moved to reassure foreign oil firms on Thursday.

"Foreign companies working in Libya, especially in exploration, they will not be compelled to have a Libyan CEO. The oil industry is in a special situation. This is more about other sectors."
Neither existing nor new joint ventures in the oil industry would be affected, he said.

"It is of course a hope, an aim, that we see some Libyans being the CEOs of companies in Libya but of course we appreciate in the meantime the special nature of the oil companies."

OIL POLICY

Ghanem said NOC was still in charge of oil policy, playing down the role of the SCEA which is dominated by conservatives close to Prime Minister Al-Baghdadi Ali al-Mahmoudi.
"It is the NOC that is now responsible for the policy and the practices of the oil industry in Libya," he said.

Asked if decisions were approved by the SCEA, Ghanem said: "No, by the cabinet. Otherwise it is the NOC which oversees the activities of the companies which suggest to them proposals."
The creation of the SCEA led to speculation that Libya's powerful old guard was trying to undermine the authority of Ghanem, who foreign investors see as a sympathetic partner.
Investors were also worried that if the council took an active role in decision making it could further slow the pace of energy project approvals.

Sluggish bureaucracy aside, the drop in oil prices has led Libya and other OPEC members to look again at some investments to boost oil production.

Ghanem said on Saturday that Libya would not meet a 2012 oil output capacity target of 3 million barrels per day.

When oil prices peaked, national oil companies decided it was worth producing more and many new investment projects were studied, Ghanem said on Thursday.

"But then there were cost increases and oil prices went down," he said. "There is also a glut in capacity ... so it became non-economical to pursue so many expansions."

Party's Over For Libya's Epsa-4 Pioneers

One by one, the international oil companies (IOCs) that rushed into Libya to participate in the country's first two hotly contested Epsa-4 bid rounds in 2005 are preparing to pull out as their five-year exploration licenses approach expiry.

But despite the tricky year operators have endured in Libya, it is geology, rather than political interference by Tripoli, that is the key factor behind their departure (PIW Jun.8,p4). Discoveries on acreage awarded in those rounds have been rare, with only Canadian independent Verenex -- now set to be acquired by the state Libyan Investment Authority -- bucking the general trend of dry holes and small, subcommercial finds. "If over the next two to three years we don't see any serious exploration success, quite a few companies will be moving out of Libya," Repsol YPF's Libya country chief Felix Castaneda told a recent conference.

Australia independent Woodside is leading the way, announcing plans last month to exit Libya by early 2010. The UK's BG has also served notice that it intends to relinquish two of three exploration blocks it was awarded in 2005, and is soon expected to part with a third that it shares with Norway's Statoil. Woodside has had no drilling success on any of its four offshore Epsa-4 blocks, and is expected to let these licenses lapse next year, in addition to selling its interests in older Epsa-3 acreage. The writing is on the wall for a host of other companies -- Brazil's Petrobras and Australian partner Oil Search last month plugged and abandoned their single commitment well on offshore Block 18. Other winners from the first two Epsa-4 rounds are also understood to be on the way out, notably Chevron from Murzuq Area 177 and state China National Petroleum Corp. from offshore Block 17-4, while the jury is still out on the commerciality of the gas find made a year ago by the US' Hess on offshore Block 54.

Operators with older contracts and a few discoveries to their name face a rather different challenge, namely how to develop these finds under tougher Epsa-4 terms. When Libya's state National Oil Corp. (NOC) launched contract renegotiations with producers in 2007, it maintained that companies working under older and generally more generous terms would have to agree to new terms for the production phase conforming to the Epsa-4 model. For some, that crunch time is now fast approaching, and NOC is firmly in the driver's seat (PIW Nov.9,p5). Having spent millions on exploration, walking away is not an option, and many operators are keen to find a way to negotiate with NOC. But for those already facing technical challenges -- as Repsol and Austria's OMV are with their offshore NC-202 discoveries -- tougher Epsa-4 terms may jeopardize their development prospects.

New opportunities for IOCs in Libya remain limited, with one possible exception. Having taken note of the majors queuing up to develop Iraq's fields under service contracts, Shokri Ghanem -- albeit during his brief hiatus from his job as head of NOC -- recently said he would love to see the same happen in Libya (PIW Oct.26,p7). NOC has always maintained that Libya's bigger and mature producing fields are off-limits to foreign investors and will stay in the hands of NOC subsidiaries such as Agoco and Sirte Oil, quashing IOC hopes of landing re-development, enhanced oil recovery or production-sharing contracts for giant fields such as Sarir. New bid rounds are also on hold, at least until oil prices head back closer to $100 per barrel.

Source: Energy Intelligence Group

My picture on LBBC website

I am pleased to announce that this picture was chosen by the Libyan British Business Council to be used for its website and it’s placed on the main page. Although I am not a professional photographer but I think the picture a good presentation for business in Libya.

To see the original picture please see my page at Flicker and Panoramio.

The Libyan British Business Council (LBBC) is an organisation based in London and promoting British businesses to the Libyan market and it runs sometimes events on the Libyan market and arranging for missions to Libya, for more information please see their website http://www.lbbc.org.uk/

EID MUBARAK

EiD MuBaRak To ALl MuSLiMs aRoUnd ThE WoRlD…
MaY ThE WaRmTh AnD FeStIvItY Of ThE EiD SeAsOn FIll OuR WoRlD WiTh CoNtieNtMenT And PeAcE….

Woodside to exit the Libyan market

According to the latest reports coming from Sydney –Australia that Woodside Petroleum Ltd will exist Libya early next year, the company said in a statement it has negotiated a sale of its onshore assets in Libya and expects to exit the country early in 2010.

On Tuesday 23rd Nov 2009, forecast its full year oil and gas production in 2010 to fall to between 70 million and 75 million barrels of oil equivalent.

Woodside is Australia's second biggest oil and gas company reiterated its 2009 output guidance of 81 million to 86 million BOE. It said its 2010 forecast excludes a 5.8 million BOE contribution from its share of the Otway gas project, offshore Victoria state, which Woodside recently agreed to sell to Origin Energy Ltd.

Woodside Petroleum has gained entry into Libya in a consortium with exploration and production sharing agreements (EPSA) with the Libyan National Oil Corporation (NOC). The agreement was signed on Sunday, 30 November 2003, in Tripoli and covers five exploration blocks in the onshore Sirte Basin in northern Libya and one in the onshore Murzuq Basin in western Libya.

The consortium was made up of operator Woodside (45 per cent), Spanish oil company Repsol (35 per cent) and Greece's Hellenic Petroleum (20 per cent). The minimum initial exploration commitment was 13 exploration wells.


Source: WSJ & Sahra Oil Consultancy Ltd