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    Libya agrees gas deal with Eni and BP, head of NOC tells Skynews Arabia

Summary

Libya has agreed with Eni and BP to begin extracting natural gas from a Mediterranean gas field believed to be bigger than Egypt's huge Zohr field, the head of the National Oil Company (NOC) told Skynews Arabia on Monday.

by: Reuters

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Libya agrees gas deal with Eni and BP, head of NOC tells Skynews Arabia

ABU DHABI, Oct 31 (Reuters) - Libya has agreed with Eni and BP to begin extracting natural gas from a Mediterranean gas field believed to be bigger than Egypt's huge Zohr field, the head of the National Oil Company (NOC) told Skynews Arabia on Monday.

Eni will also invest $8 billion to develop natural gas fields in western Libya, NOC's Farhat Bengdara added.

Speaking on the sidelines of an industry conference in Abu Dhabi, Bengdara told Skynews Arabia that Libya expects between $35 billion and $37 billion in oil revenue this year and that it has proven natural gas reserves that exceed 80 trillion cubic feet. (Reporting by Moataz Mohamed Writing by Lina Najem Editing by David Goodman )