Audit Bureau discusses Eni gas deal with objecting Oil Minister Aoun

Libya’s Tripoli-based Audit Bureau reported yesterday that its head, Khaled Shakshak, discussed at a meeting in its Tripoli headquarters with the Minister of Oil and Gas, Mohamed Aoun, the Oil Ministry’s ‘‘point of view on oil agreements and their impact on production rates, and the Audit Bureau’s observations about the ministry’s performance and some issues related to the oil sector.’’

Oil Minister Aoun objects to Eni deal
The Audit Bureau was referring to Minister Aoun’s public objection to the announced terms of the Eni gas deal. Aoun had said on Saturday that the Eni deal bypassed his Oil Ministry and cabinet approval and changed the terms of the deal originally signed in 2008.

External auditors for the NOC
The Audit Bureau meeting also dealt with the mechanism of selecting external auditors to audit the accounts of the National Oil Corporation (NOC) and its subsidiaries, as stipulated in the laws regulating the oil sector.

Eni deal to be reviewed?
The Audit Bureau reported that the two parties agreed to hold a subsequent meeting in the presence of the Ministry of Oil, the NOC, and the relevant technical committees ‘‘to discuss possible mechanisms to develop the sector and review agreements to ensure the highest level of disclosure and transparency.’’