ExxonMobil Confirms High Bid in Libya Exploration Licensing Round; Company Plans to Evaluate Additional Libyan Oil and Gas Oppor
03 Octobre 2005 - 10:28PM
Business Wire
Exxon Mobil Corporation (NYSE:XOM) confirmed today that its
subsidiary, ExxonMobil Libya Limited, was high bidder on the large
Cyrenaica Basin Contract Area 44 in the latest Libyan tender. The
National Oil Corporation made the announcement at the second Libyan
Exploration Production Sharing Agreement IV Tender Round conducted
on October 2. The tender was the second exploration round since the
normalization of business relations between Libya and the United
States. "We are pleased to be re-establishing a business presence
in Libya with our success in this second licensing round," said Tim
Cejka, president of ExxonMobil Exploration Company. Contract Area
44, which comprises 2.5 million acres, is located in the Cyrenaica
Basin offshore in water depths ranging from approximately 10 feet
to more than 10,000 feet. ExxonMobil was the only U.S. oil company
named as a high-bidder in the license round. CAUTIONARY STATEMENT:
Estimates, expectations, and business plans in this release are
forward-looking statements. Actual future results, including
project plans, could differ materially depending on the outcome of
commercial negotiations, changes in law or government policy, and
other factors discussed under the caption "Factors Affecting Future
Results" in item 1 of ExxonMobil's most recent 10-K and available
on our website at www.exxonmobil.com.
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