Libya Oil Exports Resume from Brega

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Oil & Gas News
Libya Oil Exports Resume from Brega
Released:  27/08/20132013-08-27
Word count:  220

Oil exports from the Libyan port of Marsa al Brega have resumed after a force majeure was lifted as protesters ended their blockade of the terminal, the deputy oil minister said Monday.

Nasdaq
"A few tankers have left the port after we lifted the force majeure on Aug. 22," Omar Shakmak told Dow Jones Newswires. "The port is now operating as normal and at full capacity," he said. Brega, with a capacity of around 90,000 barrels a day, is one of the four ports affected by the force majeure, declared after protests caused the facilities to be shut at the end of July, as workers demanded the payment of wages, as well as higher salaries or more jobs. However, officials said the situation was more precarious, with armed guards trying to sell oil without government approval.

The strikes in eastern and central Libyan ports had effectively shut down shipments from terminals there, which account for more than half of Libya's$60 billion of oil exports annually.

Es Sider, the largest of Libya's oil terminals with a 350,000 barrel-a-day capacity, as well as Ras Lanuf and Zueitina in eastern Libya remain closed. Storage facilities in the country, a member of the Organization of the Petroleum Exporting Countries, have filled with crude, crimping any new production. According to data supplied by the oil ministry, Libya's output fell in the first half of August to about 500,000 barrels a day -- about one-third of the highs reached last summer and the lowest since just after Libya's civil war ended in late 2011.
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News Releases

News Releases
Released:  24/04/20142014-04-24
Word count:  267

A regional inter-state meeting was held in Cairo last week in order to advance cooperation among Egypt, Tunisia and Libya in addressing the challenges and opportunities of migration governance.

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ENPI- EU Neighbourhood Info
The meeting was held by the International Organization for Migration within the scope of its ongoing EU-funded project on “Stabilizing at-risk communities and enhancing migration management to enable smooth transitions in Egypt, Tunisia and Libya” (START). The two-day interstate meeting, which took place at the Ministry of Manpower and Emigration, was hosted by the Egyptian Minister of Manpower and Emigration (MoME), Dr. Nahed Hassan Ashry, and was attended by delegations of high-ranking officials from Libya, Tunisia and Egypt. The main objective of START is to support the governments of Egypt, Tunisia and Libya to stabilize at-risk communities and enhance migration management – helping to establish preconditions to smooth transition processes and sustainable recoveries in the three target countries. IOM works in cooperation with government counterparts to deliver activities aimed at alleviating economic pressures on at-risk-communities throughout Egypt, Libya and Tunisia by strengthening migration management, providing support services to migrants and by enhancing the capacities of relevant government bodies to further enable them to anticipate and address emerging migration trends. The two-day interstate meeting was the first of a series of multilateral dialogues to be carried out within the scope of the START programme. The first session aimed to advance dialogue on common challenges of migration governance facing each of the countries across the region as well as to enhance cooperation among Libya, Tunisia and Egypt in developing complementary strategies and actions to address such challenges. START is a three-year programme that has received €9.9 million of funding from the EU and is being implemented by IOM in cooperation with the Governments of Egypt, Tunisia and Libya. (EU Neighbourhood Info
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News Releases

News Releases
Released:  24/04/20142014-04-24
Word count:  397

A new scheme has been launched to provide grants to Libyan media to help them strengthen their management capacity and improve their output.

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Iwpr
The Libyan Content Development Fund (LCDF) is being run by IWPR as part of a partnership with the German media development organisation Deutsche Welle Akademie, funded by the European Union.

Speaking at a March 29 launch event for the LCDF project, the European Union’s envoy to Libya, Natalia Apostolova, described the project as “a milestone on the way towards building and developing a media that goes in line with [existing] efforts toward democracy in Libya”.

Addressing the event in Tripoli, Deutsche Welle Akademie director Christian Gramsch, said, “We and our partners have assessed the needs and put together a long-term strategy for serious ongoing work to reinforce the media sector in Libya.” In a competitive awards process, the LCDF will provide funding to media for a variety of projects, including content production, staff training and editorial management reform.

• Grants of between 5,250 and 37,500 euro will be awarded to media outlets.

• Applications to the fund will be approved by a selection committee consisting of Libyan and international media experts.

• Libyan media outlets will conceptualise and produce high-quality content focusing on issues relating to political transition, democracy, good governance, gender and minority rights, and inclusion in the political process.

• LCDF will provide editorial and administrative oversight for successful projects.

"Democracy can never be rooted in Libya unless [it is done] with the presence of a professional media sector that is aware of its responsibilities … and contributes to the transfer of Libya from a dictatorship to an era where rights and freedoms are respected,” Lamia Abusedra, Libya’s deputy information minister, said at the launch event for the LCDF project held in Tripoli on March 29.

“A free, professional, and unbiased media is crucial to developing Libya,” said IWPR Libya Country Director Seth Meixner, adding that LCDF would allow participating media to “design and create content which will raise the capacity and professionalism for the sector as a whole”.

LCDF Project Manager Nabil Khoury says any Libyan media outlet or entity is eligible for grant funding. “The fund will respect the balance between state-owned and private institutions, as well diversity of geography and specialisation,” he added.

The application process will be set out on a website which is due to be launched shortly.

Enquiries and letters of intent can be sent to the LCDF team at khoury@iwpr.net.

For further information contact Duncan Furey, International Partnerships Director at duncan@iwpr.net.  
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Business News

Business News

RWE Dea AG, headquartered in Hamburg/Germany, conducts international exploration for hydrocarbons. The company deploys state-of-the-art drilling and production techniques and utilizes the vast expertise acquired over more than 110 years of its corporate history.

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NOC

It has also set standards in terms of safety and environmental protection.

RWE Dea operates production facilities in Germany, the United Kingdom, Norway, Denmark and Egypt, and holds exploration licenses in Algeria, Libya, Poland, Trinidad Tobago and Turkmenistan.
In Libya, one of the key regions of RWE Dea’s upstream business, the company operates the concessions NC193 and NC195, located in Sirt Basin. In these concessions four (4) Exploration wells and two (2) optional appraisal wells  are planned to be drilled Q4 /2014 & 2015.
 
Pre-qualification Announcement for provision of Cementing and Stimulation Equipment Services  
RWE Dea North Africa /Middle East GmbH Libya Branch (Company) intends to issue the tender described below and wish to invite for pre-qualification, interested, experienced and reputable companies (contractor) specialized in providing Cementing and Stimulation Equipment Services.
 
SCOPE OF WORK SUMMARY:
Provision of "Cementing and Stimulation Services" for the drilling of four (4 ) vertical exploration wells & 2 optional wells in NC193 & NC195 “Sirt basin” in Q4/ 2014 and 2015:                                                                                                                       Two (2) wells in NC193 (TD= ± 8000 ft ) & (TD= ± 9000 ft )
Two (2) wells in NC195 (TD= ± 6000 ft ) & (TD= ± 7000 ft )
Cementing, CTU, N2 and Stimulation Services shall include but not be limited to the following:
1.     • Supply of Goods (Cement, Additives, Nitrogen, Acids products and materials on consignment basis) at the Work Site.
 
2.     • Provision of Service Personnel at Work Site (Call-out and exclusive basis, at Company’s option)
 
3.     • Provision of Rental equipment/tools (Call-out and exclusive basis) at the Work Site
 
4.     • Provision of actual cementing services (mixing, pumping and pressure testing etc.) and actual CTU, N2 & Stimulation and Services at Work Site.
 
5.     • Provision of Technical support including but not limited to preparation of detailed cement programs for each well and final cement report upon completion of each well, testing of the cement formulation and chemical additives using Contractor’s laboratory facilities at Contractor’s base.
Latest spud date for fourth d well is 31 December, 2015
 
WORK LOCATION
Concessions NC193 /NC195 Sirt Basin, Libya
QUALIFICATION DOCUMENTS
Interested companies are required to obtain the pre-qualification package from RWE Dea Procurement Department located in:
15/A Barcelona Street
Hai Andalus
Tripoli, Libya
Tel.: +218-21-4775500
 
 
Deadline for collecting pre-qualification package is on Sunday 29/04/2014 (15:00PM)
 
Deadline for submission of filled out questionnaire is on Sunday 06/05/2014 (15:00PM)
 
 
 
 
 
 
 
IMPORTANT NOTES
6.     The pre-qualification request is not an invitation to tender. Company is neither committed nor obliged to undertake the work described above or to issue any call for tender or to include any respondent to this invitation or other company on any Bidders List or to award any form of contract.
7.     The Invitation to Tender (ITT) and full ITT Package will only be issued to qualified companies that have been successfully pre-qualified.
8.     Company will not be responsible, whatsoever, for costs incurred in the preparation and submission of the response to this notice.
9.     Company is not obliged to give any justifications or reasons behind disqualifying any of the participants after evaluation of the pre-qualification.
10.  Company shall deal only with authorized officers of the bidding companies and not through individuals or agents.
11.  For any clarification or inquiry, please email to: Tender_Exp_Drl_NC_193_195@rwedea.com
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Oil & Gas News

Oil & Gas News
Released:  23/04/20142014-04-23
Word count:  187

The Libyan National Oil Company (NOC) is poised to resume crude oil export with a cargo of one million barrels, after more than eight months of interruption due to the blockade of the main oil terminals in the eastern part of the country.

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African manager
An Italian oil tanker docked Tuesday night at the oil port of al- Harriga to load a cargo of one million barrels of crude oil, Salah al-Manfi, Acting Director of the Arabian Golf Oil Company (AGOCO), a subsidiary of the NOC, announced Wednesday.

The development followed the lifting of the blockade of oil terminals a few days earlier, Mr al- Manfi said in a statement published on the AGOCO website.

The resumption of oil export comes less than a week after the decision of the NOC to lift the force majeure on the oil port of al- Harriga, after it came under the control of the state, as well as the port of Zueitina, after an agreement with the armed groups that controlled it since July 2013.

Oil terminals in Zueitina and al-Harriga, controlled for several months by armed groups in conflict with government, were reopened on 6 April after an agreement.

The lifting of the blockade of the other two ports, al-Sedera and Ras Lanuf, is expected in two weeks.

The new lease of life at the oil terminals will raise Libya's oil export to 1.5 million b/d.  
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Business News

Business News
Released:  22/04/20142014-04-22
Word count:  723

The Libyan Investment Authority plans to outsource its investment management, expand in London and implement international standards of governance, as it seeks to move beyond allegations of past mismanagement, cronyism and failed investments.

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Gulf news
“LIA will no longer manage investments as it did in the past — we will manage external managers”, Abdulmagid Breish, the chairman of the Libyan Investment Authority told the Financial Times in an interview today.

As part of its restructuring plans, the LIA wants to expand its operations in London, where is already owns a valuable commercial property portfolio. “[London] will be a centre of excellence where a lot of the analytics, a lot of the research and the management of external managers will be handled,” Breish said.

“We will have to prepare our risk profile and allocation,” he added. “Once that is done, we will identify which best in class fund managers will be suitable”. Breish, a former banker at Arab Banking Corporation, took over the reins of the ailing Libyan sovereign wealth fund last year and continued previous efforts to restructure what was previously one of the world’s most opaque state investment vehicles. After the fall of the Gaddafi regime nearly three years ago, the LIA began to take stock of its portfolio of holdings. According to a recent valuation by Deloitte cited by Breish, the LIA is now worth $66 billion. It still owns some 550 companies and direct investments in North Africa, the Middle East and Europe — some of which it intends to wind up.

Most of LIA’s assets remain frozen. Nonetheless, Breish says, the LIA is already being courted by international financial organisations looking to pitch their business. “We’ve had many different financial institutions pitching for the past three months,” he said. “We’ve been telling them we’re not ready, we’re building restructuring and enhancing our capabilities and when we’re ready we can engage.” The LIA also plans to establish a “future generations fund”, to be replenished through oil income, and a “budget stabilisation fund”, from which the Libyan government could borrow if it has a budget deficit. This overhaul of investment strategy and governance is being carried in tandem with a quest to recover some of the massive losses the LIA suffered on investments with some of the world’s biggest banks, before the Libyan revolution. After its inception in 2006, the LIA sought investment opportunities for Libya’s oil wealth. By 2010, it had built a cash-heavy portfolio, which also featured equity stakes in companies such as Italy’s UniCredit bank and Pearson, owner of the Financial Times, in which it still has a 2.98 per cent shareholding. However, the fund also entered into a series of risky derivative transactions which led to billion-dollar losses, some of which the LIA is now looking to recover through the courts. In January this year, the LIA sued Goldman Sachs over derivative trades in excess of $1 billion. In March it filed a $1.5 billion claim against Societe Generale accusing the French bank of helping to funnel bribes worth tens of millions of dollars to close associates of Saif Al-Islam, the son of former Libyan leader Muammar Gaddafi.

Both banks deny the claims made against them, and Goldman Sachs has applied for summary judgement on its case. In addition, the LIA is considering taking action to recover $700m it invested in Netherlands-based Palladyne International Asset Management and to investigate several other smaller transactions.

Palladyne International Asset management, which is led by Ismael Abudher, the son-in-law of Libya’s former oil minister, is accused in a separate lawsuit filed by a previous employee in the United Staes of serving as a “kickback and money laundering operation” for the former Libyan regime.

Palladyne could not be reached for comment, but had previously referred to the allegations as ‘untrue and ludicrous’. Steering the LIA in post-Gaddafi years has not been plain sailing. “We were starting form zero” Breish said. “ The LIA was an institution that’s been left to rot”.

Breisch’s predecessor, Mohsen Derregia, was ousted in February last year, and blamed interference from well-connected individuals and entrenched interests for his dismissal.

“I am not inhibited by pressure by any party,” Breish said. “This does not mean that there isn’t pressure. You see this coming from certain quarters who are anxious about their future or are anxious about uncovering certain things that may pertain to them.” However, he remains positive for the future of the LIA. “I will put into LIA whatever is best practice and what international sovereign wealth funds do  
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News Releases

News Releases
Released:  22/04/20142014-04-22
Word count:  25

Libyan Airlines launched on last Thursday the first flight between the International Airports of Alabroq and Istanbul.

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Libyan investment
The new air route between the airports will be one trip per week.

The first flight departed towards Istanbul with one hundred passengers on board.
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Business News

Business News
Released:  21/04/20142014-04-21
Word count:  125

Amman, April 19 (Petra)--Director General of the Libyan Foreign Bank Mohamed Mohamed Ben Youssef said his country is determined to expand investment base in Jordan as it enjoys political and economic stability and due to the prudent monetary policies of the Central Bank of Jordan.

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Petra
In a statement to Petra on the sidelines of the Arab Banking Conference, he said that Jordan is a state that enjoys political and economic stability which is a factor that stimulates investments.

On Libyan investments in the Kingdom Ben Youssef said that the Libyan Foreign Bank has a stake of 16.5 percent in the Housing Bank, 12.5 percent in the Arab Investment Bank and 4 percent in the Jordan Bank.

"Libyans' confidence in Jordan's economy is increasing and the increase of Libyans deposits in Jordanian banks is an indication of Libya's willingness to invest in the Kingdom and support its banking sector," he added.

Registered Libyan investments in the Amman Bourse stand at $742 million and Libya ranks seventh among Arab and foreign investors in the Amman Bourse.
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Oil & Gas News

Oil & Gas News
Released:  21/04/20142014-04-21
Word count:  585

Libya is restarting the process of exporting oil after an eight-month standoff with rebels who blockaded a number of the country’s most prominent ports ended last week following negotiations between the rebels and the Tripoli government.

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ASHARQ AL-AWSAT
A tanker, the Aegean Dignity, arrived at the Hariga port in the country’s eastern region on Tuesday, according to a statement by Salah Al-Monghi, the head of the Management Committee at the Arabian Gulf Oil Company, a subsidiary of Libya’s state-owned National Oil Corporation (NOC). Monghi said the tanker would load some 1 million barrels of crude oil destined for Italy.

An NOC official speaking to Reuters said the vessel began loading the oil on Wednesday. Speaking to Asharq Al-Awsat, NOC spokesperson Mohamed Al-Harari said a further “800,000 barrels of crude will be ready for export from the Hariga Port within the next 10 days,” adding that he expected the government to step up activity at the port in an attempt to make up the losses incurred since the closure.

This follows an agreement on April 6 between the Tripoli government and rebels in the country’s eastern region to relinquish control of a number of Libya’s most important ports—including its largest, Sidra—following a blockade that has lasted eight months, completely crippling the country’s oil export activity. Libya’s oil production fell from 1.4 million barrels per day (bpd) before the rebel takeover last fall to 150,000 bpd currently, according to official government figures. The country’s oil ministry said oil export receipts fell from 12 billion Libyan dinars (9.7 billion US dollars) to 3 billion dinars (2.4 billion dollars) year-on-year during the first quarter of 2014. As part of the agreement the rebels immediately opened the Hariga and Zuetina ports, with the Ras Lanuf and Sidra ports due to be open in two to four weeks following further talks with the government.

Harari said: “Talks must resume [with the rebels] to open the remaining ports. We have suffered great losses from this [crisis], but we will be able to make up these losses once production and export levels are back to normal.” The Zuetina and Harega ports accounted for around 200,000 bpd of the 1.4 million bpd of exports before the crisis, with the larger ports such as Sidra and Ras Lanuf contributing around 500,000 bpd each. A diplomat from an Arab country who requested anonymity told Asharq Al-Awsat that in any country where the economy relies almost entirely on oil, “a mere 100 untrained armed people can take control of ports and oil fields and, more generally, impact the entire economy.” The head of Libya’s Tripoli-based parliament, the General National Congress, said recently the country had sustained some 18 billion dollars in losses since the crisis began.

While the majority of the stoppages in the west have been caused by civil protests over pay, working conditions and minority rights, the more well-known of the rebels are secessionists from the country’s eastern region of Cyrenaica. They are led by Ibrahim Jadhran, a former anti-Gaddafi fighter and head of a guard corps set up to protect state-run oil facilities, and are demanding greater control of oil production and a greater share of exports from the region, as well as the establishment of a committee to oversee the exports. Jadhran’s movement is demanding greater autonomy for Cyrenaica, accusing the Tripoli government of neglecting the region.

Tensions between the rebels and the government came to a head last month when the rebels loaded oil onto a tanker off Sidra without Tripoli’s approval in a bid to export the oil themselves. Meanwhile, on Tuesday the NOC announced that the Arabian Gulf Oil Company had discovered two new oil and gas fields near Libya’s Sirte Basin, extracting around 1,900 barrels of oil in the process.  
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Oil & Gas News

Oil & Gas News Business News
Released:  18/04/20142014-04-18
Word count:  290

IRN and co-organizer Oliver Kinross met with senior Libyan NOC delegation and the Executive Advisory Committee on 2nd and 3rd April in London at the Charing Cross Hotel to discuss final preparations for the upcoming 3rd Annual New Libya Oil & Gas Forum, taking place in London on 29th-30th May.

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Petroleum Africa
Eng. Mohamed Al-Harari, the Head of Cooperation and Business Development of the Libyan National Oil Corporation, along with Dr. Mohamed S. Ellob, Head of the Downstream Development Committee of the NOC discussed the agenda of the only forum that the NOC is officially endorsing this year with the expert advisory committee.

The Advisory Board was formed with; Eric Butterworth, Board Member at the Libyan British Business Council; David Boote, a consultant geologist that has more than 25 years for Occidental Oil & Gas; Dr Daniel D Clark-Lowes, author of the “Oil & Gas Fields Atlas of Libya” and an expert deeply involved in the Libyan Oil & Gas sector since the 1970’s working with the NOC and Occidental Libya; Ed Evans, who has over 20 years’ experience with oil and gas technologies and is working on global projects for IOCs; Prof. Richard Moody, who has a 50 year experience in the oil and gas industry, 30 of which have been in the Libyan oil and gas sector; and Carlos Venturini who has a 26 year expertise in the global oil and gas E&P industry and specializes in the North African sector.

The 3rd New Libya Oil & Gas Forum will take place on 29th-30th May at the 5* Jumeirah Carlton Tower London Hotel. The two-day agenda will facilitate discussions on the current exploration activities, the geology and petroleum system, case studies on onshore and offshore operations, fiscal regime, development of existent undeveloped fields, future exploration and EOR potential, Libya’s pipelines, HSE standards, petrochemicals and refineries, digital oil and gas technology, upstream and downstream hydrocarbon investments.

BP Libya, Shell, Repsol and Sonatrach Libya (SIPEX) are just some of the international oil companies that will give insights at the forum presenting their onshore and offshore operations in the country.
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Oil & Gas News

Oil & Gas News
Released:  17/04/20142014-04-17
Word count:  349

An oil tanker started loading crude at Libya’s eastern port of Hariga as the region exports oil for the first time since July after civil unrest decimated the North African country’s production and shipments.

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Bloomberg
The Aegean Dignity started to load Hariga terminal at 11 a.m. local time, Mohamed Elharari, spokesman for state-run National Oil Corp., said by phone today. The operation will take about 24 hours. The shipment is for Italy, according to a statement from NOC subsidiary Arabian Gulf Oil.

“This is the first loading in around nine months from any of the rebel-controlled ports in the east and the first concrete positive from the deals announced just over a week ago,” Richard Mallinson, Energy Aspects analyst in London, said by phone yesterday. “But it is worth remembering that the market is only taking this as a very limited positive development” because other terminals remain shut.

Libya, the holder of Africa’s largest crude reserves, has dropped to the smallest producer among the Organization of Petroleum Exporting Countries as unrest deepened since the ouster of Muammar Qaddafi three years ago. The nation, which pumped close to 1.6 million barrels a day until the start of 2011, is now producing 200,000 barrels a day, Elharari said April 14.

Rebels seeking a share in oil revenue for their region took control of four of Libya’s nine oil ports in July. The central government reached an agreement with some rebels earlier this month to open Hariga and Zueitina oil terminals, which have combined capacity of 180,000 barrels a day.

Es Sider, Libya’s largest terminal, and Ras Lanuf are still shut. State-run National Oil is in the process of lifting force majeure on Zueitina, Oil Ministry Measurement Director Ibrahim Al Awami said April 10, referring to the legal step that protects companies from liability when operations are disrupted for reasons beyond their control. Vienna-based oil company OMV AG (OMV) booked the Aegean Dignity tanker to load a cargo of Sarir crude from Hariga between April 15 and 16, two traders said on April 11, asking not to be identified because the matter isn’t public.

To contact the reporters on this story: Nayla Razzouk in Dubai at nrazzouk2@bloomberg.net; Saleh Sarrar in Dubai at ssarar@bloomberg.net

To contact the editors responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net Dan Weeks
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Construction News

Construction News Business News
Released:  17/04/20142014-04-17
Word count:  133

KUALA LUMPUR: Protasco Bhd expects to complete its remaining projects in Libya by the end of this year or beginning of 2015.

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The star online
The construction and engineering services group managing director Datuk Chong Ket Pen had on Thursday reaffirmed Protasco's decision to complete the projects in that country.

In June 2013, Chong was reported saying the company was restarting business in Libya at end-June after exiting the country in 2011. He had then said they had some RM60mil worth of jobs from two contracts in Libya to be done.

"We have written off RM20mil in provision in the past two years for our halted operations in Libya. Our machines are still there. We've been asked to start work by the government and our team has gone back a few times," Chong told StarBiz in June 2013.

He said Protasco's operations in Libya had been profitable until the revolution interrupted its business. Libya is currently undergoing political reconstruction.  
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Business News

Business News
Released:  17/04/20142014-04-17
Word count:  233

Sir Dominic Asquith, former British Ambassador to Libya and now Chairman of the Libyan British Business Council (LBBC), will lead a business delegation to Tripoli from 1-4 June 2014.

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LBBC
LBBC members and other British companies across a range of sectors including fisheries, financial services, healthcare, oil services, power generation, professional services, training, water treatment and even equine veterinary services are invited to take part in the last opportunity to visit Libya before Ramadan (which starts on 29 June) and the summer holiday season.

There are good reasons to visit Libya. Although Libya has yet to launch the major infrastructure projects needed to rebuild and develop its economy, the way business is done there puts a premium on the development of business relationships and trust before major tenders are issued. Those who have shown commitment to the market and have a proven track record with Libyan decision makers will be best placed to win major business in future.

And a number of LBBC member companies who are already in the market have found that this approach is already paying off in the form of preliminary contracts and business. As one company who entered Libya with an LBBC Delegation in 2013 recently told us, “our initial task was small…but having done something here has allowed some conversations to move to the next level…business is there: it just needs to be rooted out and relationships developed”. The LBBC can introduce you too to key Libyan decision makers and start you on the road to new business.

For further information call John Parr (07933 313846) or Pauline Graham (07974 851242).
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Oil & Gas News

Oil & Gas News
Released:  16/04/20142014-04-16
Word count:  258

Arabian Gulf Oil Company (AGOCO) is a fully owned by NOC has drilled the FF2-47 well to a total depth of 7270 feet and tested oil from the Lidam Formation.

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NOC

The well is located in Sirte Basin approximately 80 km south west of Marada Town.

The initial production test flow rates from the Lidam Formation are as follows:

 

Well Name

Formation

Tested Interval

(feet)

Choke Size

(Inch)

Oil Rate

bbls/d

Oil Gravity

API

FF2-47

Lidam

6776-6790

6800-6820

32/64

1900

27

 

Note:

The FF1-47 exploration well was drilled in 1971 and the results were not encouraging where only 65 bbls of oil were recovered and hence it was not considered as a discovery at the time.

 

 published April 14, 2014


 

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Construction News

Construction News Contract News
Released:  16/04/20142014-04-16
Word count:  125

New Delhi, Apr 15: Punj Llyod today said it has won Rs 3,254-crore contract for constructing infrastructure facilities in a Libyan city.

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The Hindu business line
“We wish to inform that the company has been awarded a contract to design and construct infrastructure facilities of Zliten city (Libya),” Punj Lloyd said in a filing to the BSE.

The project involves design and construction of the storm and sewer network, water network, telecommunication and power distribution network, natural gas network, street lighting and road works including landscaping of parks and green areas.

The project covers about 2,400 hectares, almost the entire area of Zliten city and is scheduled to be completed in four years. “The approximate cost of the said project is LYD 665.719 million, equivalent to $540 million or Rs 3,254 crore,” the filing said.

The shares of the company closed at Rs 34.70 a piece, up 0.87 per cent from the previous close on the BSE.
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Oil & Gas News

Oil & Gas News
Released:  15/04/20142014-04-15
Word count:  605

Libya, the OPEC nation producing at about 10 percent of capacity, is set to raise oil shipments next week as a tanker was booked to load crude from one of four ports seized last year by rebels.

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Bloomberg
State-run National Oil Corp. lifted force majeure on the Hariga terminal yesterday, according to a statement on its website. Vienna-based oil company OMV AG provisionally booked a tanker to load as much as a million barrels of oil from the port next week, according to two traders with knowledge of the matter. Hariga has oil in storage ready to export, according to the oil ministry.

Brent crude, a benchmark of half the world’s oil, has fallen about 3 percent this year amid speculation that Libya would restart shipments. The possible return of supply is weighing on prices, said Seth Kleinman, Citigroup Inc.’s London-based head of energy research, after the rebels agreed to surrender the Hariga and Zueitina terminals this week.

“The government is free to start exports from the two ports,” said Ali Al-Hasy, a spokesman for the self-declared Executive Office for Barqa that seeks self-rule for the eastern region. “They are both under the control of the Petroleum Facilities Guard,” he said. The Petroleum Facilities Guard is part of Libya’s defense ministry.

Libya, the holder of Africa’s largest crude reserves, currently ranks as the smallest producer among the Organization of Petroleum Exporting Countries, according to the group’s monthly report yesterday. Fields including Repsol SA-operated Sharara and Eni SpA-operated Elephant are shut as protests over jobs, pay and political rights disrupt operations.

The rebels, who are seeking a share in oil revenue for their region, are led by Ibrahim Al-Jedran, a former commander in the Petroleum Facilities Guard. They still control the ports of Es Sider and Ras Lanuf, which have a combined capacity of 560,000 barrels a day. Hariga and Zueitina together can handle 180,000 barrels a day. Market Overhang

“A resolution to the nine-month standoff may be near but the devil is in the details,” the International Energy Agency said today in its monthly report. “The timing of the resumption could face a multitude of problems and delays.”

OMV has booked, subject to confirmation, the tanker Aegean Dignity to load a cargo of Sarir crude from Hariga between April 15 and 16, said the two traders, who asked not to be identified because the matter is not public.

Robert Lechner, OMV spokesman in Vienna declined to comment when reached by e-mail, citing company policy. Provisional oil-tanker bookings sometimes get canceled.

“The potential resumption of disrupted Libyan exports is also now hanging over the market,” Citigroup’s Kleinman wrote in a report dated April 8. Brent was little changed at $107.37 a barrel on the ICE Futures Europe exchange as of 1:30 p.m. London time. Zueitina Terminal

National Oil is also in the process of lifting Force Majeure on the Zueitina terminal, Al Awami said, referring to the legal clause that protects a company from liability when it can’t fulfill a contract for reasons beyond its control. Hariga and Zueitina have oil in storage, he said on April 8.

The April 6 agreement between the parties stipulates that the government pay the salaries of members of the Petroleum Facilities Guard who defected to the Barqa federalists and carry out an audit of the nation’s oil sales over the past three years since the ouster of Muammar Qaddafi.

“We delivered our part of the deal, we handed over the two ports,” said Al-Hasy. “It’s their turn to deliver.”

Libya produced close to 1.6 million barrels a day until the start of 2011, data compiled by Bloomberg show.

To contact the reporters on this story: Maher Chmaytelli in Dubai at mchmaytelli@bloomberg.net; Sherry Su in London at lsu23@bloomberg.net

To contact the editors responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net James Herron, Rachel Graham

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Business News

Business News
Released:  15/04/20142014-04-15
Word count:  208

Thomas Smith, agents of SDV Logistics in Malta have now also extended representation in Libya. SDV, a member of the Bolloré Group, is a global leader in supply chain management, offering services including logistics, international transport, customs brokerage, warehousing, distribution, and express courier service.

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Malta Independent
Managing Director, Joe Gerada, says “We are investing in our ability to implement an extensive supply chain solution. SDV is already a strong player within Africa, as part of Bolloré Africa Logistics, and it is indeed a pleasure to announce to Maltese-Libya traders that Thomas Smith can assist their business further by coordinating all sub-agents’ and clients’ logistical operations”.

Thomas Smith has been active as logistics provider and also as port agent in Libyan ports, and continues to be, supporting Malta’s role as a logistics hub in the Mediterranean. Thomas Smith Logistics Manager, Ramon Azzopardi, added that post revolution, the organisation took the initiative to engage a Maltese permanent representative in Libya from its own work force, coordinating and monitoring cargo at destination.

SDV ranks among the world’s top 10 in transport and logistics companies, and has a track record of being a high performer with an environmentally responsible approach. The company offers services to industries such as Oil & Gas, Aerospace, Healthcare, Cosmetics and Perfumes, Fashion, Telecom and High Tech. With its headquarters in Paris, France – within Charles de Gaulle Airport’s cargo operation base – the company runs a global network of 540 agencies and employs 32,000 professionals worldwide in 93 countries. SDV services global accounts such as General Electric.
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Oil & Gas News

Oil & Gas News
Released:  14/04/20142014-04-14
Word count:  75

Libya's Zawiya oil port reopens, refinery to restart in 24 hours

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Reuters
(Reuters) - Libya's western Zawiya oil port has resumed operations after protesters vacated the entrance to the facilities and the adjoining refinery will restart in about 24 hours, a spokesman for the state oil company said on Sunday.

The National Oil Corp spokesman added that there were continuing issues with protesters in the area but they hoped to resolve these in the next few hours. (Reporting by Julia Payne and Feras Bosalum; editing by Andrew Roche)
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Oil & Gas News

Oil & Gas News
Released:  14/04/20142014-04-14
Word count:  205

Libya oil exports to recover to 1 mbd by mid June - OPEC chief

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Voice of Russia
Libya's oil exports are likely to quadruple from current levels and hit 1 million barrels per day by mid-June after rebels ended a blockade of two terminals, OPEC Secretary General Abdullah El-Badri said Friday."I think the first one million barrels will come in two months' time, but after a million it will take some time. Because the main challenge now is the security," El-Badri said at an international oil conference in Paris.

The Libyan army announced Wednesday it had taken control of Al-Hariga and Zueitina ports under a deal to end a crippling nine-month blockade by rebels seeking autonomy in the country's east.And on Thursday, Libya's National Oil Co (NOC) lifted a force majeure on Al-Hariga, opening the way for renewed exports from the facility with a capacity of exporting 100,000 barrels per day.

The blockade of four ports had reduced Libyan exports from 1.5 million barrels per day to around 250,000 barrels per day, and has been a key factor in keeping the price of Brent oil above $100 per barrel. Renewed oil exports will restore a much-needed revenue stream for the weak central government following the 2011 overthrow of Moamer Kadhafi.Tripoli says the blockade has cost the country more than $14 billion (10.1 billion euros) in lost revenues.
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Oil & Gas News

Oil & Gas News
Released:  14/04/20142014-04-14
Word count:  45

The Libyan army on Wednesday (April 9th) regained control of the al-Hariga and Zueitina oil ports. Al-Hariga could resume operations as early as Sunday, a port official told AFP.

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Magharebia
Under the deal reached at the week-end, Cyrenaica separatists were to also hand over the Ras Lanuf and Sidra ports within one month.

The seizure of the four eastern oil terminals last July slashed Libyan oil exports from 1.5 million barrels per day to just 250,000 bpd.
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