Tuesday, October 4, 2011

British company Heritage Oil PLC paid $19.5 million for a 51% stake in #Libya company Sahara Oil Services


Hanan
British company Heritage Oil PLC paid $19.5 million for a 51% stake in  company Sahara Oil Services Holdings Ltd
9:30am: Libyan interim government fighters have launched what they say is the “final assault” on the loyalist stronghold of Sirte, as officials pledged to appoint a new transitional government soon after the strategic coastal city is captured.
9:18am: British company Heritage Oil PLC has acquired a controlling interest in a Libyan company licensed to provide oil field services including offshore and land-based drilling.
Heritage said Tuesday that it paid $19.5 million for a 51 percent stake in Sahara Oil Services Holdings Ltd. Heritage said the acquisition will allow it to play a significant role in Libya’s oil and gas industry. Sahara Oil Services was established in 2009 and is based in Benghazi.
Heritage says it established a base in Benghazi this year and has been dealing with senior members of the National Transitional Council. Tony Buckingham, chief executive of Heritage, says his company is now well placed to win exploration and production licenses.
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2 Responses to LIVE Libyan Unrest: October 4, 2011

  1. Peace Maker says:
    October 4, 2011 at 6:41 AM
    Hi NTC’s, you people think that, civil war is the only way to abolish military regime, whereas, negotiation/endurance can also work with the aid of AFRICAN UNION INTERVENTION, because many natural talented Libyan have lost their lives while others become disabilities, in this on going civil war. Can their lives be restored again?
    Reply
  2. Peace Maker says:
    October 4, 2011 at 7:06 AM
    NTC’s fighters claimed, they launched fresh assault on Sirte again, any sensible individual, would easily deny and confirm it as another false report. How will you launch assault without any single casuality recorded from both sides, since 3 days ago. NTC’s fighters, Stop kidding the whole world pls.
    Reply
Posted by Robby Ball at 5:06 AM