MILAN (AP) — Italian oil and natural gas company Eni and Russia's Gazprom have agreed to temporarily put on hold a deal regarding a Libyan oilfield.
The two companies in February signed a $170 million deal for Eni to sign over half of its 33 percent stake in Libya’s Elephant oilfield to Gazprom.
That was shortly before violent clashes disrupted oil and natural gas production in Libya.
Eni said in a statement that Eni CEO Paolo Scaroni and Gazprom CEO Alexei Miller, meeting Wednesday in Moscow, have agreed "due to the ongoing situation in Libya" to keep Gazprom’s involvement "on temporary hold."
