Given that Libya has exhibited all the stability of a puff adder on benzedrine since the West removed its longstanding leader, Muammar Gaddafi, in 2011, it is little wonder that it has found attracting foreign investment into its flashpoint oil and gas sector a tad tricky since then.
The Ministry of Energy has terminated negotiations with four oil companies after more than two years of unfruitful negotiations for petroleum agreements over their respective blocks.
ENI has expressed its satisfaction with the decision of the Milan Court of Appeal which, confirming in the first degree, rejected the appeal made by the Nigeria Civil Party aimed at obtaining compensation for the procedure on the acquisition of the OPL 245 block and required Nigeria to pay legal fees.
Italy’s Eni and its partner TotalEnergies have made a significant gas discovery in Block 6, offshore Cyprus.