The economy Ministry has invited potential buyers of Bulgarian oil concessions in Libya to update their bids. Bulgaria is trying to speed up the sale of the 25-year concession, ending March 2005, representatives of the ministry said. More than four meetings with potential investors have taken place. Over 22 companies are interested in acquiring the rights over the concession during its last year, including Austrian OMV, Croatian-Hungarian INA and the Malaysian oil giant Petronas. The ministry will analyse the offers and will present its report to the government in a short-term period, experts said. The sate will appeal in court against the decision of the Sofia appellate court in favour of Pleven-based Neft i Gaz (Oil & Gas). With a decision of 2002, the ex-minister of economy transferred the two registered in Libya companies - BOKO and Geokom from the Pleven-based Prouchvane i Dobiv na Neft i Gaz /Oil & Gas Exploration and Extraction/ to Bulgargeomin of Sofia. The motive of the court to reject his decision was the fact that the entities that were transferred were only branches and not separate enterprises.