No Result
View All Result
Friday, June 2, 2023
22 °c
Tripoli
23 ° Sat
25 ° Sun
23 ° Mon
24 ° Tue
  • Advertising
  • Contact
LibyaHerald
 
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Business

Russian oil company Tatneft to restart Libyan operations

byNigel Ash
April 6, 2013
Reading Time: 2 mins read
A A
Russian oil company Tatneft to restart Libyan operations
14
SHARES
59
VIEWS
Share on FacebookShare on Twitter

By Hadi Fornaji.

 

Tripoli, 31 March 2013:

The Russian oil company Tatneft, has announced that it is returning to its operations in Libya, . . .[restrict]abandoned at the start of the revolution, in a further sign of slowly improving commercial relations between Tripoli and Moscow.

Tatneft, Russia’s sixth largest oil company was also its first to enter Libya in 2006, when it secured acreage in the Ghadames basin in Block 82/4. It also has rights to other blocks in the Ghadames and Sirte basins.

RELATED POSTS

NOC and Russia’s Tatneft announce new oil discovery in Ghadames Basin

Libyan state expenditure was LD 127.9 billion in 2022, up LD 42 billion on 2021: latest CBL stats

Executives from the company, which says that it had invested some $260 million in its operations here, held meetings with its partner NOC and the oil ministry in January. It seems certain that security as well as a revision of production-sharing agreements were raised by the Russians. However what assurances it was given Tatneft, which is based in the Russian republic of Tartarstan and majority-owned by the local government, is not yet saying.

A year after Tatneft began work in Libya,  Moscow’s energy giant Gazprom entered the country.  In a 2007 asset swap with BASF, the owner of Wintershall, Gazprom International obtained a 49 percent stake in  concessions C96 and C97. In 2010 output from this pair of properties was two million tons of oil and gas condensate and 227 million cubic metres of gas. Gazprom also won a concession in  Area 64 in the Ghadames basin where pre-drilling  took place in January 2011. In addition it planned in mid-2011 to begin drilling in the offshore site 19, covering over 10,000 square kilometres. During 2009, seismic was shot over around half of the area. However planned first drilling  projects were abandoned at the outbreak of the revolution. It is understood that Gazprom has been talking to NOC and the oil ministry but no deal has yet been agreed.

Early in February, a delegation from the Russian rail monopoly RZhD, led by its president Alexander Sultanov was in Tripoli to discuss resuming work on the abandoned $45 billion, 554 km Sirte-Benghazi railway line. Though Russian diplomats spoke of progress, one sticking point appears to remain RZhD’s claim for compensation and damages. [/restrict]

 Your browser does not support HTML5 video.
Tags: GazpromoilRZhDTatneftWintershall
Share6Tweet4Share1

Related Posts

SPARK partners with Hive and Assaraya in Benghazi to implement training programme
Business

SPARK partners with Hive and Assaraya in Benghazi to implement training programme

June 2, 2023
REAoL opens Benghazi office – to open office in south soon
Business

REAoL opens Benghazi office – to open office in south soon

June 1, 2023
Shippex 2023 postponed to new date of 19 to 22 June
Business

Shippex 2023 postponed to new date of 19 to 22 June

June 1, 2023
Libyan eastern government to build 300k bpd Tobruk refinery with foreign investors on BOT basis
Business

Tunisian Companies Forum to be held in Benghazi on 4 June

June 1, 2023
The Libyan Moroccan Forum for Trade and Business: 11 to 14 September in Tangiers, Morocco
Business

The Libyan Moroccan Forum for Trade and Business: 11 to 14 September in Tangiers, Morocco

June 1, 2023
Sirte and BACB to improve cooperation
Business

Sirte Oil Company’s smart fields give it higher efficiency, more accurate real-time data for timely decisions

May 31, 2023
Next Post

Justice Ministry seized by SSC; minister and staff ejected

Zeidan condemns rape and act of terror

Zeidan condemns rape and act of terror

 

Advertise on LibyaHerald

Reach thousands of our site visitors daily

240 x 400px

Advertise Here
ADVERTISEMENT

Top Stories

  • State recognised militia and Libyan Army clash in central Tripoli

    State recognised militia and Libyan Army clash in central Tripoli

    223 shares
    Share 89 Tweet 56
  • Tripoli Libyan government conducts drone strikes against criminal hideouts in western coast

    141 shares
    Share 57 Tweet 35
  • The Tripoli Libyan Ministry of Transport confirms development plan for Libya-Tunisia Ras Jedir border crossing

    66 shares
    Share 26 Tweet 17
  • Members of illegal organizations given imprisonment and death sentences by Misrata Criminal Court

    49 shares
    Share 20 Tweet 12
  • NOC completes strategic project to increase local gas supply and clean pipelines

    44 shares
    Share 18 Tweet 11
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

SPARK partners with Hive and Assaraya in Benghazi to implement training programme

REAoL opens Benghazi office – to open office in south soon

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    No Result
    View All Result
    • Login
    • Sign Up
    • Cart
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Sign In with Facebook
    Sign In with Linked In
    OR

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Sign Up with Facebook
    Sign Up with Linked In
    OR

    Fill the forms bellow to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?