Arab Today, arab today libya committed to oil contracts
Last Updated : GMT 22:04:34
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"reviewd and not re-negotiated"

Libya committed to oil contracts

Arab Today, arab today

Arab Today, arab today Libya committed to oil contracts

Ali Tarhouni, former Minister of Oil and Finance
Tripoli - Imad Ajaj

Ali Tarhouni, former Minister of Oil and Finance Tripoli - Imad Ajaj Lybia is to re-evaluate oil production contracts, but not all would be re-negotiated, according to Ali Tarhouni, former Minister of Oil and Finance. He expects that most contracts would remain the same and only what is against the law will be terminated. Libya has resumed oil production in late September, after almost a six months hiatus. One million barrels a day are produced at present, which equals approximately 60% of its production volume before the revolution of February 17, of last year. The government intends to reach production volume records achieved before the war. The Libyan government has announced on the first of January of this year, reconsidering carrying out sustainable development projects, without changing oil and gas production contracts. Doubts were raised after announcing, in the end of December, the possibility of reviewing the contracts with the Italian company, Eni, the number one production company in the country. In his speech in Washington, Tarhouni stated that Libyan government is to provide alternative opportunities for the armed militias, who took part in the fight against the regime of the late Muammar Gaddafi, in order to avoid any destabilization in the country. Combatants shall be Disarmed and taken back to civilian life, to stop the increase of violence in Libya, because "you have to give a prospect of the future for these people,” and “understand their needs in regarding work, and start training them.” The Libyan politician pointed out that, “Most people want to return to normal life, but the problem lies in the absence of any alternative solution,” It should be noted that the Libyan Interim Government asked leaders of the armed militias to give in their weapons, join the new national army, which is being formed, or join the police force  

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Arab Today, arab today libya committed to oil contracts Arab Today, arab today libya committed to oil contracts

 



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