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Gazprom Neft, Eni extend Libyan option

February 05, 2014, 20:08 UTC+3 5
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MOSCOW, February 5. /ITAR-TASS/. Russian oil company Gazprom Neft and Italian Eni have reached an agreement to prolong the option for buying a share in the Elephant project in Libya, Deputy Chairman of Gazprom Neft’s Management Board Vadim Yakovlev told a news briefing.

“The Italian partner understands we had difficulty implementing the option in 2013 amid instability in Libya,” he said, adding the acquisition was still possible.

The agreement was signed in September 2011, but Gazprom Neft halted the deal amid military confrontation in Libya. It notified Eni of plans to acquire the share in December 2012. The next stage is obtaining permission from the Libyan National Oil Corporation.


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