Russian state gas producer OAO Gazprom (GAZP.RS) won't begin talks on restarting its projects in Libya until a "legitimate" regime is in place in the North African country, the company said Tuesday.
Russian state gas producer OAO Gazprom (GAZP.RS) won't begin talks on
restarting its projects in
Libya
until
a "legitimate" regime is in place in the North African country, the
company said Tuesday.
Gazprom halted work at oil concessions C96 and C97--a joint project with
Wintershall AG, a unit of German chemical giant BASF SE's BAS.XE), producing
100,000 barrel a day when unrest broke out in the country in February. One of
the projects is in the
Mediterranean Sea
off
Libya
's
coast, while the second is Block 64 located in the Gadames oil province, .
"We would like to return to
Libya
as
soon as possible," a Gazprom spokesman said.
"But until
Libya
has a
legitimate government in place, we won't start negotiations," he said.
Wintershall said Monday that production at the C96 and C97 concessions could be
restarted within several weeks, depending "on the state of the export
infrastructure as well as a stable security situation in the country."
Plans by Gazprom's oil unit OAO Gazprom Neft (SIBN.RS) to acquire a 33% stake
in ENI SpA's (E) Elephant field in
Libya
were
also delayed due to the unrest in the country. The company said in April the
deal would be finalized when the situation stabilizes in
Libya
, but
declined to comment Tuesday.
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