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| US ExxonMobil said it hoped to establish a "significant" position in Libyan oil business after returning to the country.
Kevin Biddle, vice president of the company's African operations, said at the Africa Upstream 2007 oil conference in Cape Town: "We're back and we hope to establish a significant position there in the future."
ExxonMobil, which is aiming to boost its African output by about 50 percent by the end of this decade, has earmarked Libya as one of its promising new markets on the continent.
The company was among a number of Western oil companies that left Libya under orders from the Reagan administration in the early 1980.
Biddle said that like other oil majors the company was seeing a shortage of available oil rigs in Africa, which has experienced a boom in exploration and drilling in recent years.
"It affects everybody," Biddle said, adding, however, that ExxonMobil had "adequate" rigs to cover its activities on the continent. |
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