BENGHAZI, Libya, Feb 10 (PRIME) -- Russian oil company Tatneft has discovered oil in one of its licensed Libyan deposits, Oil and Gas Minister Mohamed Aoun told PRIME in an interview released on Thursday.
"Tatneft returned to drilling and development of exploratory deposits given to it at the earlier stages of development. It received three blocks. I think that it discovered oil and is in the process of development and finalization of drilling works on these deposits," the official said.
Tatneft signed an agreement on exploration and development with the Libyan government in 2007 and in 2011 suspended all works due to a military conflict.
Aoun said that affiliate of Russian gas giant Gazprom, Gazprom E&P International, can have difficulties with continuation of development of oil near the Libyan shore due to a U.S. embargo on equipment supplies. The company had two deposits in the country.
He separately said that Libya cannot raise production of natural gas for E.U. exports in case of deficit.
"I do not think that it (the volume) will be sufficient to solve the E.U. crisis," the minister said.
He said that Libya can produce 1.4–1.5 million barrels of oil per day in 2022–2023.
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