Libya Demands U.S. Firms Reduce Output Share

  • Middle East Newsline
  • June 05, 2009
CAIRO [MENL] -- Libya has demanded that three U.S. contractors reduce their
production share of a major energy contract.
Libya's state-owned National Oil Co. has called on ConocoPhillips, Hess
Corp. and Marathon Oil Corp. to reduce their production share by more than
half in the Waha oil project. Under a 2005 agreement, the three U.S.
contractors maintain a combined stake of 41 percent in Waha, located in the
Sirte basin.
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