Eni converts six EPSA contracts as renegotiations continue

National Oil Corporation has renewed Eni’s six exploration and production-sharing contracts for 25 years from January 2008. The new expiry dates set by the agreement are 2042 for production of oil and 2047 for gas. Eni, Libya’s main foreign operator, said it had signed six EPSA-4 contracts with NOC converting its original agreements to the new standard format.