| Tripoli, Libya, Sep. 6 (UPI) -- The United States will be in on bidding for oil development and prospecting tenders in Libya for the first time in 20 years, an official said Monday.
A Libyan oil official told UPI Monday that several U.S. oil companies will be among firms from 30 countries competing to expand oil and gas production and prospect for oil in at least 15 sea and land points.
"For the first time in 20 years, U.S. companies will be allowed to run for the tender and to share production profits as announced by the Libyan Oil Institution," the official who requested anonymity said.
He said prospecting for oil will take place for the first time at 1,000 meters under sea level.
Washington lifted a two-decade ban on Libya earlier this year after the latter dropped voluntarily its programs for developing weapons of mass destruction
(United Press International) |
