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Gazprom Neft to visit Libya in April to consider the Elephant project

February 28, 2012, 14:05 UTC+3
During the visit, the specialists should learn the current situation in that country and get necessary information to make a final decision on the project
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MOSCOW, February 28 (Itar-Tass) — Specialists of Russia’s Gazprom Neft plan to visit Libya in April to analyse involvement in the Elephant project, the company’s CEO Alexander Dukov said on Tuesday.

During the visit, the specialists should learn the current situation in that country and get necessary information to make a final decision on the project, he said.

Following the military operation in Libya, the deal, where the Russian company was to buy a share in the project, was frozen for force majeure reasons. Gazprom Neft was to buy 50 percent of Italian Eni’s share /33 percent/ in the project.

The force majeure was lifted in the beginning of 2012. Gazprom Neft was to make a decision on participation in the project before the yearend.

Gazprom Neft is one of the largest oil and gas producers in Russia. Key areas of the company’s operations include exploration, development, production and sale of crude oil and gas, as well as oil refining and marketing of petroleum products. Gazprom Neft operates in Russia’s largest oil and gas regions. Its major refining facilities are located in Omsk, Moscow, and the Yaroslavl regions, as well as in Serbia. Gazprom Neft’s proven hydrocarbon reserves under the SPE (PRMS) classification exceed one billion tonnes of oil equivalent, making it one of the world’s top twenty oil companies.

 

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