"We are pleased to be re-establishing a business presence in Libya with our success in this second licensing round," said Tim Cejka, president of ExxonMobil Exploration Company.
Contract Area 44, which comprises 2.5 million acres, is located in the Cyrenaica Basin offshore in water depths ranging from approximately 10 feet to more than 10,000 feet. ExxonMobil was the only U.S. oil company named as a high-bidder in the license round.
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