Middle East Economic Survey

VOL. LII

No 7

16-Feb-2009

LIBYA

Total Updates Its EPSA Contracts, Agrees To $500Mn Signature Bonus, Says NOC

Total became the latest oil company operating in Libya to agree to convert its petroleum contracts into the new EPSA-4 model, as required by Libyas state-run National Oil Corporation (NOC). The memorandum of understanding (MOU) signed by Totals CEO Christophe de Margerie and NOC Chairman Shukri Ghanem on 9 February extends the validity of the contracts covering...