THE NEW YORK TIMES: Shell, Libya Reach Gas Exploration Deal
4 May 2005
By THE ASSOCIATED PRESS
LONDON (AP) — The Royal Dutch/Shell Group of Cos. said Tuesday it has reached a long-term agreement for a major gas exploration and development deal with Libya’s National Oil Corp.
Shell said the agreement covers the rejuvenation and upgrade of the existing liquefied natural gas plant at Marsa Al-Brega on the Libyan coast and the exploration and development of five areas located in the heart of Libya’s major oil and gas producing Sirte Basin.
Shell’s return to Libya — where it was active from the 1950s until 1974 and where it conducted exploration in the late 1980s — has been aided by the country’s improved ties with the West following its announcement in December 2003 that it would dismantle its chemical, nuclear and biological programs.
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