Libya seeking new investors for ENI projects

July 07, 2011 | Africa, Government & Regulations

Muammar_Gaddafi

Libya’s government has begun negotiations with Russian and Chinese energy firms on taking over ENI’s projects in Libya after the Italian firm withdrew its staff, a senior Libyan government official told Reuters on Thursday.

“This withdrawal happened without warning and the Libyan state has started negotiating with big Russian and Chinese oil companies to enter into a partnership in these investments,” said the official, who did not want to be identified.

The official did not identify the firms with which the Libyan government was negotiating.

ENI is the biggest foreign oil company inLibya. It withdrew its international staff earlier this year after violence broke out when thousands of people rebelled against Libyan leader Muammar Gaddafi.

The firm has since established contacts with anti-Gaddafi rebels based in the eastern Libyan city of Benghazi.