Libya Celebrating 'Cooperation With Gazprom'

The National Oil Corporation of the Great Socialist People's Libyan Arab Jamahiriya (NOC) rolled out the red carpet this week for Gazprom Netherlands CEO Boris Ivanov.

Ivanov met with NOC Chairman Shokri Ghanem to discuss Gazprom's current operations in Libya and the best way to pursue developments.

Ivanov's visit coincides with Russian Federation President Vladimir Putin's week-long meeting to firm up relations between Libya and Russia. Putin ios expected to oversee the signing of some $10 billion in deals.

Gazprom currently has operations in three blocks which the company won through the third and fourth public bid rounds staged by NOC.

Gazprom announced April 10 that it would join efforts with Eni SpA on the development of joint gas projects.

In March 2007, Gazprom agreed to explore and develop a block offshore Libya, and in December the company was granted a 49% share in two producing onshore concession areas.

"Gaddafi once said his love affair with the Soviet Union had failed to materialize in a marriage," a Russian official said. "Perhaps it is time to try a marriage of convenience."

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