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BP Close To Integrated Libyan Gas Deal - Libyan Oil Head

Source: www.gulfoilandgas.com 12/13/2006, Location: Africa

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U.K. oil major BP PLC (BP) is close to signing an integrated gas development deal with Libya's state-owned National Oil Co., which could be signed next year, NOC's chief executive said. Speaking to DJN, Shokri Ghanem said "we are close, very close" to signing with BP.

Ghanem said that "it's not going to be this year" but a deal could be clinched next year. But he cautioned "it's not sure it's going to be signed."

The deal would be for upstream gas exploration, production and export from Libya.

BP's talks follow a similar agreement secured in 2005 by rival Royal Dutch Shell PLC, which is exploring for gas in the Sirte Basin.

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