Wednesday, April 14, 2010
Russia's Gazprom advances on Libyan oil deal
Gazprom has reached an accord with Italy's Eni to join the Elephant oil field in Libya.
"The parties will prepare a corresponding agreement in the coming days and submit it to the Libyan government for approval," Gazprom said on April 12.
Executives said Gazprom would take 50 percent of Eni's stake in Elephant, with reserves of 700 million barrels of oil.
In exchange, Eni would participate in projects to develop northwest Siberian assets.