Total drills more Congo wells
French oil giant Total is expanding its oil production from the Moho-Bilondo oilfield offshore in the Republic of Congo. The company is drilling another 14 wells that will give 90,000 barrels of oil per day by 2010. Total Congo holds a 53.5% interest in the licence, alongside Chevron Overseas Congo, which hold 31.5%, and Société Nationale des Pétroles du Congo, which holds 15%.
Duo seal Libyan refinery deal
The UAE-based oil refining company Trusta and Libya’s National Oil Corporation have signed an agreement to set up a joint venture to develop the Ras Lanuf oil refinery in Libya. The new joint venture company, named Lirco, will be established with $375m-worth of paid-up capital. Trusta and National Oil Corporation will each own half of the company.