New oil discovery in Libya
The Total Fina Elf Group announced the discovery a new oil site in Libya last week, reported Al-Hayat. The Group stated that the new oil discovery is located in the NC 190 area in the Libyan Marzouq Valley, nearly 800 kilometers south of Tripoli. Total Fina Elf estimates the capacity of the new oil well at 605 barrels per day.
The Daewoo Engineering and Construction Company recently won an order to build a $200 million gas processing plant in Libya. The plant will be built in Wafa, approximately 680 kilometers south of Tripoli. Construction on the gas processing plant will start in March with a target date of completion set for 2004, reported the official Yonhap news agency. — (menareport.com)
© 2002 Mena Report (www.menareport.com)