Ukraine intends to invest heavily in oil and gas extraction in Libya, as declared Borys Tarasyuk, Foreign minister of Ukraine, after the meeting with Abdurrahman Shelgam, Foreign Minister of Libya.

“According to preliminary estimates, Ukrainian investments in oil and gas extraction will make about two-three million dollars,” declared Tarasyuk.

Ukrainian Minister reported that they were discussing the contract between Naftogaz Ukrainy and National Oil Corporation of Libya concerning exploring and division of production, according to which Ukraine would be able to extract oil and gas fields on the territory of Libya.

Tarasyuk reminded that the contract had been signed in October 2004. According to the Minister, Ukrainian companies will be ready to start working after Libya government has ratified the contract.

Ukrainian Foreign Minister pointed out that the project is very promising and that its payback is rather high.

Tarasyuk also informed that Ukraine is interested in investing of development of infrastructure and house-building in Libya. Libya, in its turn, is interested to invest in development of hotel business in Crimea.


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