Libya Signs Large Oil Deal With Indonesia

Text of report by Qatari government-funded, pan-Arab news channel Al-Jazeera satellite TV on 8 February

Libya and Indonesia have signed an agreement to export 50,000 barrels [a day] of Libyan oil to Jakarta from the beginning of next month. The amount will rise to 200,000 barrels of oil a day by 2013. The agreement includes Libyan participation in the construction of an oil refinery in Indonesia estimated to cost seven billion dollars.

[Shukri Ghanim, president of the Libyan National Oil Corporation] The value of the investment in the refinery is estimated to stand at seven billion dollars. The investment corporation will choose the percentage of investment in [the oil refinery] following negotiations which are underway in accordance with the policy of bi- lateral cooperation. This refinery will rely on Libyan crude oil. Exportation of oil to the Indonesian market will begin with amounts to be decided on every month depending on the market.

Originally published by Al-Jazeera TV, Doha, in Arabic 2245 8 Feb 08.

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