Libya to respect ENI contracts
The new Libyan authorities clarified today that the announced decision to review the contracts signed between the Italian oil company Eni and the Gaddafi regime does not cover the oil and gas agreements, but social initiatives.
Last week, the office of the interim Libyan Prime Minister Abdel Rahim al-Kib said he would review the contracts with Eni, without elaborating. "To avoid confusion, the contracts should be reviewed are related to sustainable development projects, listed in a Memorandum of Understanding between ENI and ," the new government clarified, stressing that "agreements on oil and gas are not affected. "
Also, Filippo Cotalini, the spokesman of the Italian company, said that they had been ensured that contracts that the new Libyan authorities want to review were related to social initiatives, not oil, but the company has no further details.
ENI is the main foreign player in the Libyan oil sector. In early December, the Italian company's general director, Paolo Scaroni, described as "unthinkable" that the contracts with the Gaddafi regime could be undermined by new authorities.
It should be noted that Eni produces in between 200 to 300 thousand barrels of oil and gas. (Source: english.nuqudy.com)