Ukraine, Libya sign oil agreement

Thursday, October 16, 2003

Libya and Ukraine have signed an oil cooperation agreement.

The agreement was signed on Tuesday during the visit by Ukraine President Leonid Kuchma. Kuchma and Libyan ruler Moammar Khaddafy witnessed the oil accord as part of a series of cooperation agreements.

Officials said the agreement constituted a memorandum of understanding for cooperation on energy issues. They said this would include cooperation in the exploration and development of oil and natural gas resources.

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Ukraine has sought to obtain energy contracts in Libya to develop the North African country's gas sector. The two countries also signed agrements on scientific and technology cooperation.

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