17.07.2007
Libyaninvestment.com

On 17^th  July 2008,  NOC has signed two EPSAs (Exploration Production Sharing Agreements) with Repsol, Total OMV and Saga petroleum Mabruk that includes the two blocks NC 115 and NC 186 that these companies share with NOC. These agreements came as a result of negotiation that took place with these companies to modify and improve the terms of these agreements.

The articles of these agreements details investing in excess of 4 billion dollars in exploration and development projects environment and training of Libyan personnel, it also includes payment of 1000 million dollar's signature bonus.

These agreements take effect as of 1/1/2008.

The agreements signed by Dr. Shokri Mohamed Ghanem Chairman of NOC and Messer, Antonio Brufau Chairman & C.E.O Repsol, Wolf Gang Remp. SR V.P Exploration & Production International OMV,  Thierry Debertrand General Manager Total E&P Libya and Mr Gjermund Stakland acting General ManagerSaga Mabruk S.A.

The signature ceremony attended by NOC Management Committee Members Negotiation teams some of the oil sector companies Chairmen, Owners Committee Chairman and other senior officials from NOC & the Companies.

[NOC Libya ]