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Assessing opportunities in Libya

Source: www.gulfoilandgas.com 3/29/2004, Location: Africa

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Opportunities for participating in exploration and development activities in Libya are being considered by Statoil after UN sanctions on the country were lifted in the autumn of 2003.

These investigations are well under way, reports project manager Tore Sund.

"We hope to be able to contribute technical expertise and experience in oil and gas production," he says.

Statoil needs to clarify a number of conditions before a final decision can be taken on business opportunities in the north African nation.

The group's assessments are being pursued in accordance with guidelines for relations with Libya laid down by Norwegian foreign policy.

US companies have also been permitted by the American authorities to start negotiating with the Libyans.



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