Austria's OMV to Stay in Libya

Austria's OMV has said it is committed to Libya despite conflict that has disrupted production and caused some oil majors to abandon projects.

CEO Gerhard Roiss (pictured) told Reuters: "We have been active in Libya for many years and we see ourselves being active in Libya also in the future."

He said production in Libya was back on stream and currently stable, but added: "I can't tell you how it will be tomorrow."

Libya accounts for about 10 percent of total group production, while production lost in Libya in the third quarter amounted to less than half a percent of total annual group production.

Exxon said last month it was scaling back in Libya, while Shell abandoned two exploration blocks there last year.

(Source: Reuters)

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