Tatneft Considers Return to Libya

Tatneft, the vertically-integrated Russian oil and gas company, is hoping to return to Libya when the situation there stabilizes, Interfax reports.

"The situation in Libya is stabilizing more or less, but the matter of our workers' safety does not at this point allow a return to the region," said chief executive Shafagat Takhautdinov (pictured).

Tatneft suspended operations in the country after a civil war began in Libya in February 2011.

Tatneft and Libya's National Oil Corporation (NOC) previously explored oil blocks in the Ghadames and Sirt regions. The Russian oil company concluded deals to develop these blocks in 2005 and 2006.

(Source: Moscow Times)

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