October 4, 2011
A British oil explorer today revealed a push into Libya despite ongoing uncertainty over the battle-weary country’s future.
Jersey-based Heritage Oil said it had paid 19.5 million US dollars (£12.6 million) for a 51% controlling stake in Benghazi-based Sahara Oil Services, which runs onshore and offshore fields.
The announcement comes as ousted leader Muammar Gaddafi remains missing and bloodshed continues to rock the North African state.
… Heritage, which operates in Iraq, the Democratic Republic of the Congo, Pakistan, Mali, Tanzania, Malta, Pakistan and Russia, said the stake was bought through wholly-owned subsidiary Heritage Energy International.
The deal would give Heritage legitimate access to the rehabilitation of formerly state-run fields.
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