Libya asks partners to reduce oil field stake

Deals

Libya has asked its consortium partners to cut stakes in one of its oilfields, as part of an effort to secure its own energy reserves amid high resource prices, South Korea’s energy ministry said on Monday.

A Libyan state-run oil company has requested, that Italy’s Eni, which has operation rights over the field in the Sahara, cut its stake to 14% from the current 23.33%. A South Korean consortium, in which SK Energy and Korea National Oil Corp participate, would have to cut its stake to 7%, from the current 11.67%, the ministry said. The oil field produces 138,000 barrels of crude per day. (Reuters)

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