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Libya deal supply oil to Indonesia

Indonesia’s Energy and Mining Minister, Purnomo Yusgiantoro and Shukri Ghanem, chairman of Libya’s National Oil Corporation (NOC) deal to make an agreement to supply oil to Indonesia. 

The agreement of an oil and gas cooperation has signed by Purnomo and Shukri at Tripoli on Thursday for the north African state to supply the world’s most populous Muslim nation with crude oil for the next 20 years. 

Under the agreement, Tripoli will supply Jakarta with a minimum of 50,000 barrels per day, a figure rising to 200,000 bpd from 2013.  

NOC Chairman, Shukri Ghanem said that he want  to ensure that Libyan oil is exported to the Southeast Asian market who added that his country also aimed to be involved in constructing a refinery in Indonesia to process Libyan crude. 

As we know that Libya is OPEC member and it is the African continent’s second largest oil producer with 1.7 million bpd. It has been estimated reserves of 42 billion barrels and aims to reach a production level of three million bpd in 2010 (www.todayonline.com).

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