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| Punj Lloyd Upstream bags contract in Libya Punj Lloyd Upstream, a subsidiary of Indian construction and engineering firm Punj Lloyd Ltd. announced that it has received a Letter of Intent for a contract worth US$ 42 million in Libya for deploying two onshore rigs. The contract requires drilling exploratory wells in the Gialo oilfield of the prolific Sirte Basin for Waha Oil Company, a Joint Venture between State-owned National Oil Company and Conoco Phillips, Amerada Hess, and Marathon Corporation of the United States. Waha Oil Company is the second largest crude oil producer in Libya. Punj Lloyd is already present in Libya through a pipeline project for Sirte Oil Company. write your comments about the article :: © 2008 Construction News :: home page |