Gazprom wins North African energy deal
Published: 10 December, 2007, 15:43
Gazprom has secured one of four oil and gas exploration contracts in Libya. Three other contracts were awarded to Shell, Algeria's Sonatrak and Polish company Polski.
Gazprom will develop an area of about four thousand square kilometers. It contains mainly oil, with reserves of approximately 20 million tonnes.
The company beat off competition by agreeing to cede 90% of its eventual production to Libya's state-owned National Oil Corporation.
Another Russian energy company, Lukoil, failed to win any contracts.
Two weeks before the tender, Lukoil's representative in Tripoli was arrested and accused of spying.
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