Indian Oil partners with MedcoEnergi in Mideast exploration
Offshore staff
NEW DELHI, India-- Indian Oil Corp. (IOC), has partnered with MedcoEnergi to acquire equity in hydrocarbon blocks to be offered by Yemen. IOC also plans to bid later this year for blocks in Libya with Oil India Ltd. (OIL).
Both Yemen and Libya expect to start awarding blocks later this year. While Yemen is expected to offer five to 10 offshore blocks, Libya is expected to offer 10 to 15 blocks both onshore and offshore areas.
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