Libya Criticises Shell over Operations Suspension
Smiley face

facebook

Currency

facebook


Who's Online

We have 4852 guests online

Archive

Libya Criticises Shell over Operations Suspension

Share this post

DateViews
Total493
Sat. 251
Fri. 241
Tue. 211
Mon. 131

Libya Criticises Shell over Operations Suspension

Libya’s National Oil Corporation (NOC) accused Royal Dutch Shell on Monday of failing to meet its commitments in Libya and said the London-listed company’s decision to abandon two wells was not based on an objective assessment.

Shell decided in May to suspend drilling, and abandoned exploration in two Libya blocks due to disappointing results.

The NOC said on its website that it believed Shell has made a negative assessment of the blocks. It stated that Shell had recently tried to request the annexation of those blocks, affirming the areas were rich in oil and gas resources.

They also accused Shell of not implementing a deal concluded in June 2008 involving the drilling of six wells at new fields over a five-year period. They said that Shell had not started drilling any well by the time it announced force majeure on March 22, 2011, and had instead only completed a seismic survey.

Shell said in May it planned to keep an office in Libya and had agreed with the NOC to actively pursue upstream opportunities.

[ Reuters]