The Libyan National Oil Corp. (NOC) has signed a deal for cooperation on oil with the Russian oil giant Rosneft. The deal was made on the sidelines of International Petroleum Week held in London UK.
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|The gathering included most larger oil firms in Europe and the Middle East. Mustafa Sanallah, chair of the NOC, signed together with his counterpart in Rosneft Ivanovich Sechin. Sanallah said: “We need assistance and the investment of world giant oil companies to achieve the target of Libya’s oil production and stabilize our economy." He said the deal paves the way for the two corporations to further specify their strategies for cooperation.|