Eni to Acquire Half of BP's Libya Oil and Gas Assets
Italy's Eni has agreed to buy half of BP's 85 percent stake in a Libyan oil and gas licence with the aim of resuming exploration next year, the companies said on Monday.Eni will acquire the 42.5 percent stake and become the operator of the exploration and production sharing agreement (EPSA) in Libya, in which the Libyan Investment Authority holds the remaining 15 percent…
Eni to Acquire Half of BP's Libya Oil and Gas Assets
Italy's ENI agreed to buy half of BP's 85 percent stake in a Libyan oil and gas licence with the aim of resuming exploration next year, the companies said on Monday.Eni will acquire the 42.5 percent stake from BP and become the operator of the exploration and production sharing agreement (EPSA) in Libya, in which the Libyan Investment Authority holds the remaining 15 percent, they said in a statement.T
Western Allies Warn on Control of Libya's Resources
The United States and five European countries warned on Tuesday that Libyan state institutions which control billions of euros of national assets risked being exploited by rival forces wrestling for control of the country. Libya's central bank, the Libyan Investment Authority, the National Oil Corporation (NOC) and the Libyan Post Telecommunications and Information Technology Co.
Foster Wheeler-Led JV to Develop Nafusah Onshore Oilfield
Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group, in joint venture with Taknia Libya Engineering Company (Taknia), has been awarded a front-end engineering design (FEED) contract by Nafusah Oil Operations B.V. Libyan Branch for an onshore oilfield development, known as the Area 47 Development Project in Libya.
