Russia’s Tatneft plans to resume projects in Libya

C.E.O. of Russia's Tatneft Oil reveals his corporation's intention to complete stalled projects in Libya

Libya and Russia have an outstanding trade deal worth 10 billion dollars that was inked in 2008. [Photo: Archive]
Nail Maganov, the C.E.O. of Russia’s Tatneft Oil, has disclosed his administration’s plan to finish its challenging operation in Libya, which has been on hold since 2011, during the next several years.

Maganov said in corporate comments that “Tatneft oil strives to finish its projects in Libya, most notably four exploratory contracts, comprising concession areas in the city of Ghadams and other adjacent projects on the Tunisian and Algerian borders.”

Libya and Russia inked a $10 billion trade deal in 2008, which included contracts for oil projects that Moscow hopes to complete.

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