Naftogaz Ukrainy completes registration in Libya

The Ukrainian national company Naftogaz Ukrainy has received an official invitation to send its specialists to Libya to visit the Libyan national oil corporation and select promising fields for exploring and producing oil and gas, sources in the press service of Naftogaz Ukrainy told RBC today.

This invitation is the final stage of the registration of the Ukrainian company in Libya as a foreign oil company. This will enable Naftogaz Ukrainy to sign a Production Sharing Agreement with the Libyan national oil corporation. Currently, Ukrainian experts examine Libyan oil and gas fields, conduct consultations with other oil companies and analyze tender documents.

Libya's proven oil reserves amount to about 3.8bn tons.

The representative office of the Ukrainian company was registered at the Libyan economy ministry in late February 2003.