Russian gas export monopoly Gazprom and Italy’s Eni signed an option agreement, which allows Gazprom to buy half of Italian Eni’s 33 percent share in the Elephant oilfield in Libya, Eni said in a statement on Friday.
The agreement replaces a $170-million deal signed in February but suspended in April after a civil war in the African oil-rich state broke out.
Earlier on Friday, Gazprom and Eni together with Electricite de France and Germany’s Wintershall signed a shareholder agreement on the South Stream pipeline project, designed to bring Russian gas to Europe bypassing transit states.