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Article: Firms move closer to signing revised contracts with Libya's NOC.(National Oil Corp.)
- Article from:
- The Oil Daily
- Article date:
- May 9, 2008
- Author:
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The head of Libya's state National Oil Corp. (NOC), Shokri Ghanem, says negotiations over new contract terms with Italy's Eni, Petro-Canada, and US Occidental with Austria's OMV--agreed on a preliminary basis last year--have been wrapped up. Speaking to Oil Daily last week, he said "all the main conditions had been agreed."
But sources report that a scheduled Sunday signing ceremony for some of the new contracts has been delayed because NOC needs more time for internal approvals and because of the sheer volume of documents involved. "We're close to being ready to sign," one source said.
Development plans under the new deals--which convert old producing ...