Libya-focused Verenex mulls sale in strategic review

摘要

London-Canada's Verenex Energy may sell assets, and has opened data rooms in London with details of its Libyan operations, as it reviews "strategic options" to fund the development of its oil finds, the company said November 26. The company said it was looking at a "potential" sale of its assets, having previously said it faced large development costs for Libya's Area 47 oil and gas block, which the company operates with a 50% working interest. Indonesia's Medco holds the remaining 50% stake in the block, covering 6,182 sq km in the Ghadames Basin in northwest Libya.