The Libyan Minister of Oil and Gas in the Mohammed Oun said that oil companies such as Total and ConocoPhillips asked to renegotiate the terms of work in Libya after Libya had amended the terms of the agreement between the National Oil Corporation (NOC) and Eni regarding the exploration and production of gas in the “A” and “H” offshore fields.
“I am 100% sure that others will want to renegotiate as well, including Repsol and Wintershall Dea, and perhaps OMV. It’s commercially logical if you see that someone has good conditions for other companies to request the same treatment,” he added in an interview with Argus Media, according to the Ministry of Oil and Gas.
Regarding NOC’s talks with Abu Dhabi Oil Company, Eni and Total on investing in a concession in the Hamada area, Oun said they are not against the return of international companies, but they must come to carry out new exploration activities, not in the fields that were originally discovered.
“Discoveries have been made in the region NC-07 in the 1960s and the gas pipeline extends from the Al-Wafa field to the Mellitah complex along that pipeline. So, it will be easy to start production by connecting it to the pipeline, and on the second day you will get your investment back. I personally will not agree to grant such an area for any foreign investment”.
Regarding the fact that Total Energy and ConocoPhillips did not start investing in their projects in the North Jalu region (NC-98), Oun explained that the two companies want to change the terms of the contract, saying:”How can this be justified, I do not know? Five years have passed and they have done little work so far. We don’t know when we can come to an agreement with them.”
