Gazprom inks investment deal with Libyan National Oil Company
2007-03-27
Russia's gas export monopoly Gazprom has signed a production-sharing agreement with Libya's National Oil Company to prospect and develop an offshore hydrocarbon block, the company revealed on Monday (March 26th). The agreement envisions up to $200 million in investment by the Russian company. Gazprom said it has paid a $10 million bonus for a 10% stake in the project. Libya, which has proven natural gas reserves of about 1.49 trillion cubic meters, the fourth-largest in Africa, after Algeria, Nigeria and Egypt, currently produces 80.1 million metric tons of oil and 11.7 billion cubic meters of natural gas a year. The government plans to attract foreign investment to increase oil output capacity to more than 3 million barrels per day by 2012. (RIA Novosti)
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المزوغي Posted 2009-02-09
Brothers/Magharebia, peace, mercy and blessings of God be upon you. I am happy to read this site but I am sorry not to find Libya the biggest Maghreb state in terms of area in its natural position among its Maghreb brothers. It is full of daily events like its Maghreb neighbours. Maybe it has more news. Please excuse me. Thank you.
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