Statoil investigates opportunities in Libya

Statoil ASA is investigating possible oil and natural gas exploration and development activities in Libya but it needs to clarify a number of conditions before making a final decision, executives said.

March 30, 2004

By OGJ editors

HOUSTON, Mar. 30 -- Statoil ASA is investigating possible oil and natural gas exploration and development activities in Libya but it needs to clarify a number of conditions before making a final decision, executives said.

The group's assessments are in accordance with guidelines laid down by Norwegian foreign policy, they said. "We hope to be able to contribute technical expertise and experience in oil and gas production," said project manager Tore Sund.

US companies also are permitted by US authorities to negotiate for oil and gas operations in Libya, following the lifting last year of United Nations' sanctions against that country.