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Punj Lloyd bags contract from Waha Oil

September 22, 2008

Punj Lloyd Upstream, a subsidiary of Punj Lloyd Ltd. hasi nformed us that the company has received a Letter of Intent for a contract worth USD 42 million in Libya for deploying two onshore rigs.

It said,

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.

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