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MOSCOW, June 8 (Itar-Tass) — Russia’s Gazprom Neft (oil subsidiary of the country’s gas monopoly Gazprom) will make a decision pertaining to its participation in Libya’s Elephant project by the end of the year, Gazprom Neft CEO Alexander Dyukov told a briefing on Friday.
In his words, “the decision whether or not to enter the Libyan project will be made by the end of the year after a trip of our specialists to Libya and a detailed assessment of all risks.”
According to earlier reports, Gazprom Neft was expected to enter the Elephant project, while receiving a stake of Italy’s ENI company in the Elephant project. The related documents had been signed by the companies, but they had not been adopted by the Libyan government.
The deal was not adopted by due to the armed conflict that started in Libya.