Tag Archives | Austria

Libya “an Attractive Place for OMV to do Business”

By John Lee. The Chairman of the National Oil Corporation (NOC), Mustafa Sanalla, along with the NOC Board of Directors, met with Dr. Rainer Seele, Chairman and CEO of the Austria’s OMV, recently in Vienna. They discussed various topics including technical studies aimed at increasing reserves and production capacity at Libyan oil fields. Seele told […]

OMV’s Libya Production “Ongoing”

By John Lee. Austrian energy company OMV has said its oil production in Libya is “ongoing“, and the increases are expected this year. A spokesperson for the company told UPI: “OMV production is ongoing, with a planned level of 10,000 barrels per day for the full year 2017.” (Source: UPI)

OMV Restarts Production; Increases Stakes in Libyan Fields

Austria’s OMV has announced that, as a result of the improvement in the political and security situation in Libya, it has successfully started up production at both the Sirte and Sharara oil fields. The Sharara fields are located in the Murzuq basin. In Q4/2016 OMV’s production from Libya amounted to approximately 3,000 bbl/d. OMV also […]

Libya Cannot Participate in OPEC Cuts, warns Sanalla

Libya is in such a dangerous economic situation that there is no way it can participate in OPEC production cuts for the foreseeable future, NOC chairman Mustafa Sanalla told delegates at the 8th Arab-Austrian Economic Forum in Vienna. Sanalla said Libya’s oil production had more than doubled since the lifting of force majeure at Oil […]

International Community Reaffirms Support for GNA

Ministerial Meeting for Libya Joint Communique, Vienna 16 May 2016 We welcome the presence of Prime Minister al-Sarraj and commend his leadership in guiding Libya’s institutions through seating the government in Tripoli, a turning point in the Libyan political process. We express our strong support for the Libyan people in maintaining the unity of Libya. […]

Libya Talks in Vienna next week

By John Lee. Italy’s foreign minister, Paolo Gentiloni (pictured), said on Monday that a meeting will be held in Vienna next week to discuss international efforts to bring stability to Libya. He did not give details on who would attend, but past talks on Libya have included representatives from United States, the European Union, and Libya’s […]

Strabag makes Claim against Libya

Austrian construction company Strabag has made a claim against the Government of Libya with the International Centre for Settlement of Investment Disputes (ICSID) in Washington DC. No details of the case are currently available, but it appears to relate to payments for infrastructure projects carried out by the company. Strabag will be represented by the […]

Wintershall Eyes Oxy Assets in Libya

Germany’s Wintershall is reported to be interested in buying some or all of the Libyan assets of Occidental Petroleum. The Wall Street Journal said that Houston-based Occidental has sought and obtained permission from the National Oil Corporation (NOC) to allow Wintershall access to confidential data on the fields it partly owns. Occidental currently participates, along […]