Oil: Five Japanese companies win Libyan oil exploration concessions

Five Japanese companies have won international tenders to acquire the rights to develop a total of six oil fields in Libya.It is the first time Japanese companies have been granted exploration concessions.

The companies are: Nippon Oil Corp., Mitsubishi Corp., Japan Petroleum Exploration Co., Teikoku Oil Co. and Inpex Corp. mark the first oil exploration concession ever given to Japanese firms in Libya. Inpex teamed up with French oil company Total, for their tender.