Russia Signs Libya Oil Deal
On 21 February, Libya’s National Oil Corporation (NOC) said in a statement that it has signed a crude oil offtake agreement with Russia’s Rosneft as well as a cooperation framework agreement which the NOC said “lays the groundwork for investment by Rosneft in Libya’s oil sector”.
NOC chairman Mustafa Sanalla signed the agreement with the Rosneft chairman, Igor Sechin.“We need the assistance and investment of major international oil companies to reach our production goals and stabilise our economy,” said Sanalla. “This agreement with Russia’s largest oil company lays the foundations for us jointly to identify areas of cooperation. Working with NOC, Rosneft and Russia can play an important and constructive role in Libya.”
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