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23. Sep 2007 23:02, sonu42British Petroleum (BP) has returned to Libya after thirty long years, with its biggest exploration commitment, ever! BP along with Libya Investment Corporation,
its Libyan partner, has inked a major exploration and production pact with National Oil Company (NOC) of Libya. The $900 million agreement was signed by Tony Hayward, Group Chief Executive of BP and Shokri Ghanem, the NOC Chairman. Jointly, the two companies would explore 54,000 square kilometers of Ghadames and Sirt basins, an area equal to ten of operated deepwater blocks of British Petroleum in Angola. It was in 2004, when the United States and the European Union relieved sanctions on Libya aft er it agreed not to pursue nuclear, chemical and biological weapons. This was the time when the country started attracting international oil companies. For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative For More IIPM Article, Visit Below....
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