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ENI is prepared for cooperation with Gazprom in Libya

April 25, 2012, 20:40 UTC+3
Scaroni said his company very much appreciated the project and the hydrocarbons production in Libya in general
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MOSCOW, April 25 (Itar-Tass) —— Italy’s ENI will go ahead with Russia’s Gazprom on the Libyan field Elephant, if Gazprom confirms its interest and the Libyan government approves it, ENI CEO Paolo Scaroni told the media.

“We had completed the talks on the Elephant project practically several hours before the revolution in Libya,” he said. “If Gazprom confirms its interest in the project, we shall go ahead with the cooperation.”

Scaroni said his company very much appreciated the project and the hydrocarbons production in Libya in general and was prepared to invite Rosneft to participate.

Earlier, Gazpromneft at the end of December 2011 received a notification from ENI of the termination of force-majeure regarding the Libyan field Elephant. The company’s deputy general director Vadim Yakovlev said the company had one year to make up its mind whether to stay in the project.

He said the company throughout this period would be analyzing the condition of this asset and its prospects.

“We need government support in that project from the standpoint of international prospects of cooperation,” he said. Gazpromneft plans to attract the Russian Foreign Ministry into evaluating the prospects of this asset.

Before the beginning of hostilities in Libya Gazpromneft had received a stake in the Elephant project from ENI, but in April 2011 the parties agreed to postpone the development of this field until the situation in the country returned to stability.

 

 

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