Petroleum Africa
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Tuesday, May 30, 2006
According to reports from Libya’s press service, Jamahiriya News Agency, Libya has officially opened one of its largest natural gas fields. On May 28 the ceremony for the official start of production began at the Attahadi field in the Sirte Basin. According to the Chairman of Libya’s National Oil Company, Shokri Ghanem, the field will supply the European market. “Libya will be an important supplier of gas to Europe.”
Hyundai Engineering & Construction, based in South Korea, built the Attahadi production facilities which are operated by Sirte Oil, a unit of NOC. The field, developed at a cost of $566 million, has generated more than $1 billion in revenue for the government since it began production. The field came onstream last May and currently runs at a capacity of 7 Mmcm and 35,000 bpd of condensate.
The Chairman also announced that Libya would start its third bid round soon. "Libya will offer a group of exploration blocks in a third licensing round based upon full transparency and competition."
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