Libya Helps Bolster Calmena Results

Canadian energy services company Calmena has said that first quarter results in Libya had partly offset the decreased turnover and profit from other areas.

The company gave the following statement on its Libyan operations:

"The environment in Libya is unpredictable and despite the announced targets and spending expectations by the government, there is uncertainty as to the 2013 drilling plans.

""We currently have one rig operating in the Waha field and our second rig is currently affected by labour related issues, which we expect will be resolved.

"Despite the current challenges and uncertainty in Libya we believe that at some point, the country must increase oil and gas production and that our rigs will be utilized."

(Source: Calmena)

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