Libya Rejects NOC-Eni Gas Deal

The Libyan Oil Ministry has rejected an offshore gas project deal signed between NOC and Eni on 28 Jan, saying the agreement violates the law and was done without approval according to Argusmedia.

• The deal, which would be the largest single investment into Libya's upstream sector for decades, will add some 760mn ft³/d and 47,000 b/d of liquids from the Structures A&E project at plateau.
• The oil ministry of the Government of National Unity (GNU) on 29 January specifically hit out against the terms of the deal, which it says increases Eni's share of the project's proceeds to 37% up from a previously agreed 30%.