Interest is limited in NOC offer

Libya's National Oil Corporation (NOC) completed a lacklustre third open licensing round at the turn of the year by belatedly awarding three areas to single bidders, writes Vahe Petrossian.

5 January 2007 0:01 GMT Updated 5 January 2007 0:01 GMT

Interest from the majors was limited. Russian companies led the list of winners.

NOC's earnings from signature bonuses totalled $58 million, about half the amount gained in the previous round a year ago.

The three delayed awards, announced several days after the main awards on 20 December because they involved only one bidder each, were to ExxonMobil, Oil&Natural Gas Corporation of India and Inpex Holdings of Japan.

The

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Interest is limited in NOC offer