Libya and Russia to develop cooperation in oil and gas sphere

Oct 25, 2007 02:00 AM

Libya and Russia are going to actively develop the cooperation in the oil and gas spheres.
The chief of the board of directors of the Libyan National Oil Company, Shokri Ghanem, and the co-chairman of the Russia- Libya Business Council, Ara Abramyan, held talks in Tripoli. The meeting covered prospects for cooperation between Libya and Russia in the oil and gas sector.

Ghanem and Abramyan discussed possibilities for increasing Russia’s investment in this sphere of the Libyan economy.
The sides have agreed on setting up a joint working group for examining areas of interaction, in particular the establishment of joint stock societies. Its activity will be aimed at studying the sales market, prospects for drilling operations, the state of the basic oil infrastructure and the development of draft agreements in the oil and gas sectors.

Source: Itar-Tass
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