Petroleum Africa
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Tuesday, July 31, 2007
To go along with the latest bid round where the focus is on increasing natural gas exploration and reserves, the government intends to launch a an enhanced oil recovery bid round. According to Saif Al-Islam, Libyan leader Muammar Qaddafi’s son, the enhanced recovery round is aimed at boosting the country’s oil output.
"We are now ready to launch …another round for enhanced recovery also — that’s a new one," Saif al-Islam told Reuters in an interview. The round is expected to launch in the next month or two.
Libya’s output, while climbing slightly since the lifting of UN and US sanctions still does not live up to its potential. The country’s reserves are the highest in
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