Gazprom in Talks with Oil Minister

Libya Herald reports that the Minister of Oil and Gas, Dr. Abdulbari Alarusi [Al Arusi], has been in talks with Russian oil companies on a trip to Moscow.

In particular he met Alexei [Alexey] Miller (pictured), the CEO of Gazprom, which was a significant investor in Libya prior to the revolution, and it is considered likely that the company's full return to the country was discussed.

In a 2007 asset swap with BASF, the owner of Wintershall, Gazprom obtained a 49 percent stake in concessions C96 and C97. In 2010 output from these fields was two million tons of oil and gas condensate and 227 million cubic metres of gas.

Gazprom also won a concession in Area 64 in the Ghadames basin where pre-drilling took place in January 2011.

The company also abandoned its plans to develop the 10,000 square kilometres in offshore block 19.

Earlier this year a director of the company said it was considering joining the Elephant [El Fil, El Feel] project.

(Source: Libya Herald)

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