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    Friday, April 24, 2009

    Libya steadily expanding its energy reserves

    CAIRO — Libya, aided by foreign companies, has been expanding its energy reserves. Over the last month, Libya has reported several crude oil and natural gas discoveries.   

    One of the discoveries was conducted by Algeria's state-owned Sonatrach, a partner of the state-owned Libyan National Oil Co.

    NOC and Sonatrach reported an energy discovery in the Ghadames basin, Middle East Newsline reported. Sonatrach, with a 25 percent stake, reported the discovery at the A1-65/02 well in Block 65, about 230 kilometers south of Tripoli.

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    NORTHEAST ASIA:

    South Korean growth at seven-year high

    Mideast / S. Asia:

    Israel: commandos seize Hizbullah-bound arms ship

    AFRICA/EUROPE:

    Nigeria signs $875 million railway deal with China

    Libya also reported an energy find in the Sirte basin in cooperation with Spain's Repsol, which holds a 21 percent stake.

    Both oil and gas were found at the A1-NC202 wildcat well in Demah.  



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