Libya’s NOC Settles with Medco Energy

Thursday, May 30, 2024

NOC, or the National Oil Corporation of Libya (NOC) announced that it has reached a settlement regarding the claims and counterclaims over Contract Area between it and PT Medco Energi Internasional.

Under the settlement, NOC will acquire the participating interest of Medco Energi in the Contract Area 47 Exploration and Production Sharing Agreement and Medco Energi’s entire shareholding in the Joint Operating Company, Nafusah Oil Operations B.V.

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