Libya, Exxon Mobil sign oil agreement


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Libya, Exxon Mobil sign oil agreement

The Libyan national oil company (NOC) and American oil giant Exxon Mobil on Wednesday signed an oil production, prospecting and sharing accord in Tripoli. The agreement was signed by the NOC leadership committee secretary, Dr Choukri G hanem, and the Chairman and Managing Director of Exxon Mobil Limited, Philip Goss . The accord is on the prospecting and sharing of production of Bloc 21 onshore th e North African country. In accordance with this accord, Exxon Mobil will implement a minimum prospecting programme comprising a seismic study on 4,000 square kilometres and another seismic study on a surface area of 2,000 square kilometres estimated at 97 million dollars. The American company will pay a signing subsidy of 72 million dollars in one month from the coming into force of the accord and will devote 25 million dollars to the financing of a training programme during the prospecting period. Panapress.

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