Libya not to review oil, gas contracts with ENI
LIBYA on Sunday clarified that the review of contracts of Italian oil major ENI signed with the previous regime of Moammer Qadhafi will not involve its oil and gas deals.
“To avoid confusion, the ventures to be reviewed and revised are sustainable development projects listed in the memorandum of understanding between ENI and Libya,” a statement from the prime minister’s office said.
“Oil and gas agreements are not affected by the review,” the statement added.
On Thursday, a statement quoting Prime Minister Abdel Rahim al Kib had said that Libya will review its contracts with ENI, triggering reports that the oil and gas deals of the energy major would also fall under the review.
According to that statement, Kib informed ENI Chief Executive Officer Paolo Scaroni that the contracts signed between ENI and the former regime are going to be reviewed and re-examined to meet Libya’s interests before being executed.
Soon after Kib’s statement an ENI spokesman told AFP that the contracts Kib’s office was talking about were unrelated to the Italian firm’s oil production activities.
“The two contracts are linked to social initiatives and have nothing to do with oil,” the spokesman said.
In December, Scaroni said in Doha it was ‘unthinkable’ that his company’s existing contracts would be changed by the new Libyan authorities.