By John Lee. Libya's National Oil Corporation (NOC) has accused Germany's Wintershall, a subsidiary of BASF, of trying to interfere in Libyan internal politics and to take advantage of the weakness of the state. In a statement, the NOC referred to a memorandum of understanding (MOU) signed on August 26, 2010, which extended Wintershall’s 50-year […]
Tag Archives | EPSA IV
Tags: area 95/96, BASF, C96, C97, EPSA IV, featured, force majeure, Germany, National Oil Corporation (NOC), oil production, Wintershall, Zueitina
Libyan Oil Contracts: Negotiating the Future Generation of EPSA
By Dr. Mohamed Karbal, Managing Partner at Karbal & Co. Dr. Mohamed Karbal is a New York lawyer and founding partner of Karbal & Co, a full-service international law firm with offices in Libya and Dubai that serves the needs of international and domestic client with their operations in Libya and the United Arab Emirates. […]
Libya to Sweeten Terms for Foreign Oil Companies
Reuters reports that Libya plans to improve the terms for foreign oil companies ahead of its next licensing round, which could begin as early as the third quarter of 2013. OPEC member Libya has reserves of over 40 billion barrels, but analysts have warned that some of the toughest terms in the business could act […]
Libya May Seek New Oil Bids
Libya’s new Oil and Gas Minister, Dr. Abdulbari Alarusi [Al Arusi], has said the country could proceed with a new round of oil exploration and production agreements, but the priority for now is to maintain pre-war output levels. Speaking to Reuters, he said: "Our priority is to maintain the production at 1.5 million barrels per […]
EPSA 4 Model "Not a Viable Option" for Libya
In 2005, when the first exploration round came out, Libya appeared to be very attractive and companies bid competitively. Dr. Charles Gurdon, Managing Director of MENAS Associates, recently participated in an interview with The Energy Exchange to discuss Libya's options to attract IOCs as well as the opportunities that present themselves for IOCs in North […]
Tags: EPSA IV, Oil Contracts