IRAN'S FOREIGN MINISTER Manouchehr Mottaki says the Islamic Republic and Libya will set up economic, political and cultural committees to promote bilateral ties.

EGYPT MAY DRILL 520 exploratory and development oil wells and 36 natural gas wells this year, according to the Egyptian Minister of Petroleum.

EGYPTS'S STATE-OWNED Egyptian General Petroleum Corporation (EGPC) will announce the results for its latest oil and gas bid round in one or two months, according to the company's chief executive, Abdel Alim Taha, said today.

ZION OIL & GAS is mobilising its drilling rig, currently situated at the Elijah #3 well, to resume production testing operations on the Ma'anit-Rehoboth #2 well.

UK-BASED AFREN plc has lifted the resource potential in the Ebok field to 182mn barrels following the success of the Ebok-6 appraisal well off Nigeria.