Whenever a major oil-producing region is engulfed in prolonged warfare, speculation starts to abound regarding all the potential changes to its oil and gas policy and the companies willing to take a share in its projects. The future of Iraqi oil production seems more or less settled for the upcoming years with international majors operating the most complex and grand-scale enterprises, whilst the Iraqi state companies generate know-how. Syria, too, despite occasional flareups, seems to have decided which way to go with its hydrocarbon projects – the likelihood that state-affiliated companies from Russia or China will play a crucial role in re-erecting the country’s damaged infrastructure is higher than ever. But what about Libya?
The above question might be put a tad differently - projects which remained safe throughout the past months and years will surely remain as they function today but what would happen to the ones near or inside conflict zones? Deciding to invest into Libya’s upstream requires a substantial amount of courage as the North African country is still torn between two rival governments, still struggles to come to terms with the Field Marshal Haftar-led offensive on Tripoli. Thus, if one is to invest into onshore projects (offshore production has remained uninterrupted throughout the Civil War), especially in territories which might be considered disputed, one needs some solid backing. Perhaps a return of a Russian oil company might provide a compass for future projects to come.
SanaAllah pushed out Wintershall the German company and granted Wintershall fields to LetterOne and GasProm Neft the 2 Putin owned companies already signed capturing the NC97 and NC96 Wintershall fields.
Lately TATNEFT will granted the Medco part of Nafusah NOC owned company.